How to Become an Appraiser in New Mexico
Becoming a real estate appraiser gives you the ability to be your own boss, have a flexible schedule, and earn a good living. If you’re already an appraiser, upgrading your license can help you diversify your business and grow your income.
New Mexico Appraiser License: Trainee
How to become an appraiser in New Mexico
To become an appraiser in New Mexico, the first thing you’ll need to do is become a registered Trainee Appraiser. As a Trainee, you’ll work under a Supervisor Appraiser to complete your required on-the-job training. Your supervisor will guide you as you learn how to evaluate properties, develop a professional opinion of value, and communicate your findings in the form of an appraisal report.
Steps to become a Trainee Appraiser in New Mexico
Step 1: Complete the required education.
You’ll need to complete and pass 79 hours of New Mexico qualifying education, which includes 75 hours of AQB Basic Qualifying Education courses and a mandatory 4-hour Supervisor/Trainee course:
- Basic Appraisal Principles (30 hours)
- Basic Appraisal Procedures (30 hours)
- 15-Hour National USPAP Course or equivalent (15 hours)
- Supervisor/Trainee Course for New Mexico (4 hours)
Step 2: Connect with a Supervisor.
Additionally, you’ll need to find a Certified Supervisory Appraiser and arrange for them to oversee your appraisal training. It’s a good idea to start looking for a supervisor as soon as possible. Steps 1 and 2 can be done at the same time.
Step 3: Apply for Trainee registration.
Finally, apply for your Trainee Appraiser registration by submitting the following items to the New Mexico Real Estate Appraiser Board:
- Trainee application
- Education completion certificates
- Supervisor declaration
- Fingerprints for criminal background check
- Required fees
Important: Verify all steps and requirements with your state board. For more information, contact the New Mexico Real Estate Appraiser Board at 505.476.4622.
After I become a Trainee, what’s next?
Once you’re officially registered as a Trainee Real Estate Appraiser, you can start working and earning money under your supervisor. You must work as a Trainee for at least 6 months to gain the required appraisal experience. Meanwhile, you’ll also need to complete additional licensing and certification courses and pass a national exam to become a licensed or certified real estate appraiser in New Mexico.
New Mexico Trainee Appraiser (79 hours) – AQB recommended course order
Online Info
Required Education:
79 Hours.
Basic Appraisal Principles – 30 hours
Basic Appraisal Procedures – 30 hours
National USPAP Course or Equivalent – 15 hours
Supervisor/Trainee Course for New Mexico – 4 hours
2015 AQB Supervisor/Trainee Course Requirement: Both the Trainee Appraiser and Supervisory Appraiser shall be required to complete a course that, at minimum, complies with the specifications for course content established by the AQB. The course must be completed by the Trainee Appraiser prior to obtaining a Trainee Appraiser credential, and completed by the Supervisory Appraiser prior to supervising a Trainee Appraiser.
Experience: N/A
College Education: N/A
Online Limitations
Roster
Governing Agency
FAQs about how to become an appraiser in New Mexico
How old do you have to be to become an appraiser in New Mexico?
You must be at least 18 years old (the age of majority) to become a real estate appraiser in New Mexico. This is also the minimum age to register as a Trainee.
What is an average day like in the life of a real estate appraiser?
As an appraiser, your typical work week will include a mix of office work and fieldwork. Up to half of your time may be spent on-the-go visiting properties. The rest of your time will be spent in the office (or at home) doing research and writing reports.
If you choose to work for yourself as an independent fee appraiser, you will have complete control over your daily schedule. For example, you might choose to go on site visits in the morning, then spend a couple hours doing research and analysis back at the office, take the afternoon off to pick up your children and chaperone after-school activities, then type up your appraisal reports in the evening to ensure you meet deadlines.
How long does it take to become an appraiser in New Mexico?
The first step, becoming a registered Trainee Appraiser, can be completed in as little as a few weeks. The full process to attain a real estate appraiser license or certificate in New Mexico can be done in a little over 6 months, 12 months, or 18 months—depending on which credential you decide to pursue.
Go to the “Licensed Residential,” “Certified Residential,” and “Certified General” tabs at the top of this page to read the requirements for each license level.
Which New Mexico appraisal license requires the least schooling?
The Licensed Residential appraisal classification requires the least amount of education and experience. In New Mexico, you do not need any college education to become a Licensed Residential Real Estate Appraiser.
Also, the number of appraisal qualifying education hours needed for this license is lower compared to the other two credential levels, Certified Residential and Certified General.
Go to the “Licensed Residential” tab at the top of this page for more info.
Helpful resources
New Mexico Appraiser License: Licensed Residential
How to become a Licensed Residential Appraiser in New Mexico
In New Mexico, Licensed Residential Appraisers (also called home appraisers) can appraise properties in federally related transactions of non-complex 1–4 residential units with a transaction value of less than $1,000,000. They may also appraise any other real estate with a transaction value of less than $250,000.
In federally related transactions, Licensed Appraisers may not appraise real estate wherein a development analysis or appraisal is needed.
To become a Licensed Residential Appraiser in New Mexico, you must:
- Be at least 18 years old
- Complete 154 hours of New Mexico appraisal education (includes trainee education)
- Complete 1,000 hours of acceptable real property appraisal experience in no fewer than 6 months
- Pass the National Uniform Licensing and Certification Exam for Licensed Residential Appraisers
- No college education is required
Apply to become a New Mexico Licensed Residential Real Estate Appraiser by submitting the following forms and fee to your state licensing board:
- Licensed Residential application
- Criminal history background check
- Education completion certificates
- Appraisal experience log
- Application fee
Important: Verify all steps and requirements with your state board. For more information, contact the New Mexico Real Estate Appraiser Board at 505.476.4622.
New Mexico Licensed Residential Appraiser (154 hours) – AQB recommended course order
Online Info
Required Education:
154 Hours.
Basic Appraisal Principles – 30 hours.
Basic Appraisal Procedures – 30 hours.
National USPAP Course or Equivalent – 15 hours
Supervisor/Trainee Course for New Mexico – 4 hours
Residential Market Analysis & Highest and Best Use – 15 hours.
Residential Appraiser Site Valuation and Cost Approach – 15 hours.
Residential Sales Comparison and Income Approaches – 30 hours.
Residential Report Writing and Case Studies – 15 hours.
Experience: 1,000 hours of acceptable appraisal experience in not less than 6 months.
College Education: No college-level education required.
Online Limitations
Roster
Governing Agency
FAQs about becoming a Licensed Appraiser in New Mexico
How much do residential real estate appraisers make in New Mexico?
According to Salary.com, the average residential real estate appraiser salary in New Mexico ranges from $47,336 to $95,400.1,2 The Bureau of Labor Statistics lists the mean annual wage of New Mexico property appraisers and assessors as $54,500.3 Glassdoor gives a much higher number, estimating that New Mexico home appraisers make an average salary of $103,425 per year.4
Appraisal earnings can vary widely based on factors like license level, years of experience, location, and specialized skills or certifications.
What are the continuing education requirements for New Mexico appraisers?
According to New Mexico CE requirements, real estate appraisers must complete 28 continuing education (CE) hours every 2 years. This includes the 7-Hour National USPAP Update course. All continuing education hours may be completed online.
Helpful resources
Sources cited
- Appraiser (Residential Real Estate) Salary in New Mexico (Salary.com)
- Appraiser Sr. (Residential Real Estate) Salary in New Mexico (Salary.com)
- Occupational Employment and Wage Statistics: Property Appraisers and Assessors (US Bureau of Labor Statistics)
- Residential Real Estate Appraiser Salaries in New Mexico (Glassdoor)
New Mexico Appraiser License: Certified Residential
How to become a Certified Residential Appraiser in New Mexico
In New Mexico, Certified Residential Appraisers (also called home appraisers) can appraise 1–4 family residential properties of any transaction value or complexity, including appraisals for federally related transactions. They may also appraise any other real estate with a transaction value under $250,000.
However, in federally related transactions, Certified Residential Appraisers may not appraise real estate wherein a development analysis or appraisal is needed.
To become a Certified Residential Appraiser in New Mexico, you must:
- Be at least 18 years old
- Complete 204 hours of New Mexico appraisal education (includes trainee education)
- Complete 1,500 hours of acceptable appraisal experience in no fewer than 12 months
- Pass the National Uniform Licensing and Certification Exam for Certified Residential Appraisers
- Meet one of the following higher education requirements:
- Bachelor’s degree or higher
- Associate degree in a field of study related to Business Administration, Accounting, Finance, Economics, or Real Estate
- 30 semester hours of college credit in specified topics
- 30 semester hours of College Level Examination Program (CLEP) examinations in specified topics
- Any combination of college credit or CLEP credit that includes all the specified topics
- Exception: No college-level education is required for Licensed Residential appraisers who have been licensed for at least 5 years and in good standing with no disciplinary actions filed against them in the last 5 years.
Apply to become a New Mexico Certified Residential Real Estate Appraiser by submitting the following forms and fee to your state licensing board:
- Residential Certificate application
- Criminal history background check
- Education completion certificates
- Appraisal experience log
- Application fee
Important: Verify all steps and requirements with your state board. For more information, contact the New Mexico Real Estate Appraiser Board at 505.476.4622.
New Mexico Certified Residential Appraiser (204 hours) – AQB recommended course order
Online Info
Required Education:
204 Hours.
Basic Appraisal Principles – 30 hours.
Basic Appraisal Procedures – 30 hours.
National USPAP Course or Equivalent – 15 hours
Supervisor/Trainee Course for New Mexico – 4 hours
Residential Market Analysis & Highest and Best Use – 15 hours.
Residential Appraiser Site Valuation and Cost Approach – 15 hours.
Residential Sales Comparison and Income Approaches – 30 hours.
Residential Report Writing and Case Studies – 15 hours.
Statistics, Modeling and Finance – 15 hours.
Advanced Residential Applications and Case Studies – 15 hours.
Appraisal Subject Matter Electives – 20 hours.
Experience: 1,500 hours of acceptable appraisal experience in not less than 12 months.
College Education:
1) Bachelor’s Degree in any field of study;
2) Associate’s Degree in a focused field of study, such as business, economics, or real estate;
3) Successful completion of 30 college semester credit hours in specified topics;
4) Successful completion of College-Level Examination Program (CLEP)1 exams equivalent to a minimum of 30 semester credit hours in specified subject matter areas; or
5) Any combination of #3 and #4 above that includes all of the topics identified.
6) A LICENSED RESIDENTIAL appraiser who has been licensed for a minimum of 5 years and in good standing for at least 5 years with no disciplinary actions that would affect the individual’s ability to appraise may upgrade to CERTIFIED RESIDENTIAL without completing any college coursework.
Online Limitations
Roster
Governing Agency
FAQs about becoming a Certified Residential Appraiser in New Mexico
How much do Certified Residential Real Estate Appraisers make in New Mexico?
The average annual salary for upper-level residential real estate appraisers in New Mexico falls between $65,618 and $95,400, according to Salary.com.1 Glassdoor estimates that New Mexico home appraisers make an average salary of $103,425 per year.2
Factors that impact a home appraiser’s income include license level, location, years of experience, advanced knowledge or skills, niche specialties, and professional certifications.
How can I earn more money as a home appraiser?
A good way to increase your earning potential is by upgrading your appraisal license. Typically, Certified Residential Appraisers make more money than Licensed Appraisers. This is because certified home appraisers have more skills and experience, and because they are permitted to perform complex property appraisals, including green and luxury home appraisals. Therefore, they can charge higher fees and accept a wider variety of assignments.
What are the continuing education requirements for Certified Residential Real Estate Appraisers in New Mexico?
New Mexico real estate appraisers must complete 28 continuing education (CE) hours every 2 years, including the 7-Hour National USPAP Update course. All continuing education hours may be completed online.
Helpful resources
- New Mexico Licensing Information
- Real Estate Appraiser Exam Prep
- Your Guide to an Appraisal License Upgrade
Sources cited
New Mexico Appraiser License: Certified General
How to become a Certified General Appraiser in New Mexico
In New Mexico, a Certified General Appraiser (or commercial appraiser) can appraise any real property. There is no limit to property type, purpose, transaction value, or complexity. This includes everything from single-family homes to office buildings, hotels, nursing homes, farmland, industrial facilities, and more.
To become a Certified General Appraiser in New Mexico, you must:
- Be at least 18 years old
- Complete 304 hours of New Mexico appraisal education (includes trainee education)
- Complete 3,000 hours of acceptable appraisal experience in no fewer than 18 months, including 1,500 hours in non-residential appraisal work
- Pass the National Uniform Licensing and Certification Exam for Certified General Appraisers
- Have a bachelor’s degree or higher from an accredited college or university
Apply to become a New Mexico Certified General Real Estate Appraiser by submitting the following forms and fee to your state licensing board:
- General Certificate application
- Criminal history background check
- Education completion certificates
- Appraisal experience log
- Application fee
Important: Verify all steps and requirements with your state board. For more information, contact the New Mexico Real Estate Appraiser Board at 505.476.4622.
New Mexico Certified General Appraiser (304 hours) – AQB recommended course order
Online Info
Required Education:
304 Hours.
Basic Appraisal Principles – 30 hours.
Basic Appraisal Procedures – 30 hours.
National USPAP Course or Equivalent – 15 hours
Supervisor/Trainee Course for New Mexico – 4 hours
General Appraiser Market Analysis & Highest and Best Use – 30 hours.
General Appraiser Site Valuation and Cost Approach – 30 hours.
General Appraiser Sales Comparison Approach – 30 hours.
General Appraiser Report Writing and Case Studies – 30 hours.
Statistics, Modeling and Finance – 15 hours.
General Appraiser Income Approach – 60 hours.
Appraisal Subject Matter Electives – 30 hours.
Experience: 3,000 hours of acceptable appraisal experience in no less than 18 months. A minimum of 1,500 hours of the required experience must be in non-residential appraisal work.
College Education: Must have a Bachelor’s degree or higher.
Online Limitations
Roster
Governing Agency
FAQs about becoming a commercial real estate appraiser in New Mexico
How much do Certified General Appraisers make in New Mexico?
Salary.com says the average salary for commercial real estate appraisers in New Mexico ranges from $41,549 to $126,235, depending on experience level.1,2 Glassdoor estimates that commercial appraisers in New Mexico make an average yearly salary of $88,862.3
Factors that influence a commercial appraiser’s income include years of experience, location, and area of specialization (e.g., commercial/industrial, agricultural, hospitality).
Do I need a degree to become a Certified General Appraiser in New Mexico?
Yes. You must hold a bachelor’s degree or higher in any field to upgrade your license to Certified General Real Estate Appraiser.