Fortune Academy

Appraisal – Class Description

The Real Estate Appraisers Board in South Carolina issues licenses in seven different classifications and at this time Fortune Academy offers the required curriculum for one of those levels. To qualify as an appraiser the state requires the applicant:

  • to be at least 18 years of age
  • to have graduated from High School or have a GED
  • must submit proof of completion of qualifying education and, if applicable, experience requirements
  • pass an examination, if applicable

Classification Descriptions and
Educational and Experience Requirements

Appraiser Apprentice – is an individual authorized by permit to assist a licensed or certified appraiser in the performance of an appraisal if the apprentice is actively and personally supervised by the licensed or certified appraiser.

Education/Experience Requirement: applicant must have received 75 hours of classroom education in the following course categories QE1, QE2 & QE3.

QE1 Basic Appraisal Principles – 30 hours
Course Description

This introductory appraisal course provides an overview of real property concepts and characteristics, legal consideration, value influences, real estate finance, type of value, economic principles, real estate markets and analysis, and ethic in appraisal practice. Thorough discussion of appraisal principles, accompanied by practical examples, provides a solid foundation in appraisal basics. A calculator is recommended. Tape recorders are not permitted during class lecture sessions.

QE2 Basic Appraisal Procedures – 30 hours
Course Description

This basic appraisal course provides an overview of real estate appraisal approaches to valuation procedures, value, property description, residential applications, commercial applications, improvement construction, home inspection, and appraisal math. Through theory, case studies, and examples, the course offers practical application of appraisal procedures, a calculator is recommended.

QE3 National USPAP Course – 15 hours
Course Description

This is the National Uniform Standards of Professional Appraisal Practice (USPAP) Course, 15 – Hour of The Appraisal Foundation. The National USPAP Course, 15-Hour Focuses on the requirements for ethical behavior and competent performance by appraisers that are set forth in the Standards of Professional Appraisal Practice (USPAP). This course is unique in that it is developed by The Appraisal Foundation with assistance from the Education Council of Appraisal Foundation Sponsors (ECAFS) and is revised on a periodic basis to stay current with the latest edition of USPAP.

National Appraising for the Supervisor and Trainee
Course Description

National Appraising for the Supervisor and Trainee addresses the national topic areas for supervisory appraisers and trainee appraisers specified by the Appraiser Qualifications Board (AQB) of The Appraisal Foundation in the 2015 Real Property Appraiser Qualifications Criteria. Other coursework discussing the similarities and differences of specific jurisdictional qualifying regulations may supplement this course.