Many know how to become a realtor, but what we are going to understand today is how to become a realtor appraiser.
Real estate valuation requires specific techniques and skills, and since the real estate agent is the militant professional in the field, there could hardly be anyone better prepared to determine the market value of a property.
A large portion of real estate professionals is unsure how to go about acting as a real estate appraiser. Obviously, the first step towards achieving this distinction is to be a real estate agent duly registered in the COFECI/CRECI system.
The profession of a Realtor is legally required to qualify as a Real Estate Transaction Technician. To be considered a technician in this area, a Real Estate Transaction Technician certificate is required, obtained in a regular course, in the presence or distance learning modalities, with a cost of one to five minimum wages and generally lasting ten to twelve months.
Another possibility to be enrolled in CRECI is a degree in Real Estate Management or equivalent. As it is a higher education course, it is relatively more time-consuming and expensive and can be found with classes lasting four to ten semesters and a cost ranging from four to ten minimum wages.
Once the Technician’s certificate or the Real Estate Manager’s diploma has been obtained, and the other requirements contained in its own legislation have been met, the citizen may have granted his or her state’s CRECI registration application, which, after remedied some formalities, will be able to exercise the activity of Broker of Real Estate.
Gujarat strives to be Pakistan’s biggest real estate developer ever, guaranteeing the highest international standards, prompt execution, and lifetime customer loyalty. With projects like www.skymarketing.com.pk/islamabad/capital-smart-city/
Since 1978, the Realtor has been entitled to carry out property valuations, as Article 3 of Law 6,530/78 establishes that “the Realtor, in addition to intermediating in the purchase, sale, exchange, and lease, can give an opinion as for the commercialization of real estate”.
Therefore, the Realtor appraiser is authorized by force of the law that regulates its profession to be engaged in opining on real estate valuation and will continue to do so.
Any questioning about whether the real estate professional is the most suitable to establish the market value of the property is unlikely, and here is a parenthesis: to argue the possibility that a certain property has a value, while the market pays a different price is a fallacy with the intent to deceive.
The realtor appraiser is legally authorized to carry out valuations and is the most qualified to be able to establish the value of a property.
It needs to develop a technique capable of producing a document, where the bases of its technical knowledge are presented, grounded within a methodology based on supporting the reason why the property has the final value found, taking into account the physical characteristics and other aspects relevant to the formation of its value, with identification of valuing or devaluing circumstances.
Precisely for this reason, in 2006, COFECI Resolution 957/2006 of May 22, 2006, was published, totally revoked, and reissued with the number COFECI Resolution 1.066/2007 of November 22, 2007, creating the regulations for the functioning of the Registry National of Real Estate Appraisers, as well as for the elaboration of Technical Opinion of Market Evaluation, establishing the obligation of specific knowledge of the subject, including through preparatory course.
Immediately, in the Sole Paragraph of Article 1 of the Resolution, it is determined: “The registration of the Realtor in the National Register of Real Estate Appraisers is optional, nothing preventing the real estate broker not registered in it from giving an opinion on the commercialization of real estate under the terms of the article 3, in fine, of Law No. 6,530, of May 12, 1978. ”
Although registration is optional, the broker must comply with the provisions of Article 2⁰, which states: “A Real Estate Broker may be registered in the National Register of Real Estate Appraisers, cumulatively or alternatively”:
Holder of a university degree in real estate management or equivalent;
Holder of a certificate of completion of a real estate appraisal course.
Of course, these diplomas and certificates must be issued by courses recognized and previously authorized by COFECI.
For the regulation of the Resolution, Normative Act 001/2011 was edited, where, among other requirements, it considers the need for higher education courses to have in their curriculum a discipline of Real Estate Appraisal that meets, at least, the syllabus listed in item 2 of Annex VIII of the Act.
The minimum workload is established in paragraphs 1, of Article 3, of the Act, when it determines: “§ 1 – The property appraisal course must have a minimum workload of 24 hours if offered in person, and 26 hours, if in EaD mode.” Through the COFECI website, at www.cofeci.gov.br, the application form for registration with the CNAI – National Registry of Real Estate Appraisers is available.
To register, the individual broker must be regularly registered and up to date with his financial obligations with the Regional Council of Real Estate Brokers. After downloading the file, you must fill it out in triplicate, with a signature, adding the following documents: “documents evidencing the qualification; two 3×4 color photos and proof of payment of the registration fee.”
The above-mentioned rate will correspond to 30% (thirty percent) of the base value of the annuity of the individual in the exercise.
COFECI will issue the Real Estate Appraiser Registration Certificate to the Realtor registered with the CNAI, as well as the Real Estate Appraiser Identification Card, both valid for 3 (three) years.
