To obtain a Missouri broker
license, applicants must be 18 years of age and fulfill all the following requirements:
1. Hold a current and active Missouri salesperson license for at least 24 of the
last 30 months immediately preceding the application for license.
2. Earn a Certificate
of Satisfactory Completion from a 48-hour pre-exam broker course by an accredited Missouri real estate school on or before
the exam date.
3. Pass both portions of the Missouri broker exam.
4. Application for license must be submitted within six months of the completion date of the 48-hour pre-exam
broker course.
BROKER
PRE-EXAM COURSE
The 48 Hour Broker Pre-examination
Course is designed to prepare students for the State and National Broker Exam. Since brokers require a greater knowledge
base, instruction will be directed toward assimilation-type questions and discussion, as well as focusing on the responsibility
involved in making judgment calls and critical decisions. The curriculum includes ownership of property, freehold and
leasehold estates, legal description, responsibilities in managing property - including personal, management agreements, escrow
accounts and discrimination. The student will also be exposed to brokerage and agency, financing, valuation (appraisal)
of property, Missouri License Laws and Rules relating to brokerage, real estate math, and closing statements.
REAL ESTATE CONTINUING EDUCATION
Each real estate licensee who holds an active license shall complete during
the two (2)-year period prior to renewal, as a condition precedent to license renewal, a minimum of twelve (12) hours of real
estate instruction approved for continuing education credit by the Missouri Real Estate Commission. An active license
is any license issued by the commission except those which have been placed on inactive status.
At least three (3) of the twelve (12) hours of approved instruction shall
be taken in a course identified by the Missouri Real Estate Commission as a core class. The balance of the twelve (12)
hours of instruction shall consist of elective courses which have been approved for continuing education credit by the Missouri
Real Estate Commission.
APPRAISAL COURSES
Lifetime Learning offers
courses for appraisal trainee, licensure and certification. The scope of practice for the Appraiser Trainee Classification
is the appraisal of those properties that the supervising Certified appraiser is permitted by his/her current credential and
that the supervising appraiser is qualified to appraise. The Licensed Residential Real Property Classification applies
to the appraisal of non-complex one to four residential units having a transaction value less than $1,000,000, and complex
one-to-four residential units having a transaction value less than $250,000. The Certified Residential Real Property
Appraiser Classification qualifies the appraiser to appraise one to four residential units without regard to value or complexity.
The classification includes the appraisal of vacant or unimproved land that is utilized for one to four family purposes or
for which the highest and best use is for one to four family purposes.
APPRAISER TRAINEE REQUIREMENTS
Examination:
There is no examination requirement for the Appraiser Trainee Classification, but the trainee shall pass examinations in the
prerequisite courses in order to earn credit for core education courses.
Qualifying Education: As the prerequisite for application, an applicant must have completed 75 creditable class
hours as specified in the required Core Curriculum. Additionally, applicants must pass the Core Curriculum examinations
and pass the 15-Hour National USPAP Course and examination. The core curriculum includes:
Basic Appraisal Principles..............................................................................30
Hours.
Basic Appraisal Procedures............................................................................30
Hours.
The 15-Hour National USPAP Course............................................................15
Hours.
Experience: No experience is required
as a prerequisite for the Appraiser Trainee Classification. Please remember that Missouri regulations require that an
applicant register as a trainee with the Commission prior to accruing any experience hours. This means that if an applicant
has been under supervision but did not register as a trainee, the experience will not count. Note: Trainees who
register on or after July 1, 2013 will be required to have completed 75 hours of qualifying education within the five year
period prior to submission of the trainee application.
LICENSED RESIDENTIAL REAL PROPERTY APPRAISER
"EFFECTIVE MAY 1, 2018"
Examination:
The AQB approved Licensed Residential Real Property Appraiser Examination must be successfully completed. The only alternative
to successful completion of the Licensed Residential examination is the successful completion of the Certified Residential
or Certified General examination.
The prerequisites
for taking the AQB-approved examination are completion of:
1.
One hundred fifty (150) creditable hours as specified in the Required Core Curriculum.
2. One thousand (1,000) hours of qualifying experience in no fewer than six (6) months.
Qualifying Education: As
part of the 150 required hours, the applicant shall successfully complete the 15-Hour National USPAP Course, or its AQB-approved
equivalent, and the examination. There is no alternative to successful completion of the USPAP Course and examination.
The core curriculum includes:
Basic Appraisal
Principles..................................................................................30 Hours.
Basic Appraisal Procedures................................................................................30 Hours.
The 15-Hour National USPAP Course............................................................... 15 Hours.
Residential Market Analysis And 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.
CERTIFIED
RESIDENTIAL REAL PROPERTY APPRAISER "EFFECTIVE MAY 1, 2018"
Examination: The AQB approved Certified Residential Real Property Appraiser Examination
must be successfully completed. The only alternative to successful completion of the Certified Residential examination
is the successful completion of the Certified General examination.
The prerequisites for taking the AQB-approved examination are completion of:
1. Two hundred (200) creditable class hours as specified in the Required Core Curriculum.
2. A Bachelor's Degree, or higher, from an accredited college or university. As an alternative to a Bachelor's
degree, considered option #1. There are five other options including:
Option #2 An Associates
Degree in a field of study related to: Business Administration, Accounting, Finance, Economics or Real Estate.
Option #3 Successful completion of 30 semester hours of college-level courses in each of the following specific
topic areas:
A. English Composition (3 hours).
B.
Microeconomics (3 hours).
C. Macroeconomics (3 hours).
D.
Finance (3 hours).
E. Algebra, Geometry, or Higher Math (3 hours).
F. Statistics (3 hours).
G. Computer Science (3 hours).
H. Business Law or Real Estate Law (3 hours).
I. Two Electives Courses
in any of the above topics or Accounting, Geography, Agricultural Economics, Business Management, and Real Estate (3 hours
each).
Option #4 Successful completion of at least 30 hours of College Level Examination
Program (CLEP) examinations that cover specific topic areas in option number three.
Option
#5 Any combination of Option #3 and Option #4 that includes all of the topics identified.
Option
#6 No College level education required. This option applies only to appraisers who have held a Licensed Residential
credential for a minimum of five (5) years and have no record of any adverse, final, and non-appealable disciplinary action
affecting the Licensed Residential appraiser's legal eligibility to engage in appraisal practice within the (5) years immediately
preceding the date of application for a Certified Residential credential.
3.
One thousand five hundred (1,500) hours of qualifying experience obtained in no fewer than twelve (12) months.
Qualifying Education: As part of the 200 required hours, the applicant
shall successfully complete the 15-Hour National USPAP Course, or its equivalent, and examination. There is no alternative
to successful completion of the USPAP Course and examination. The core curriculum includes:
Basic Appraisal Principles...........................................................................
30 Hours.
Basic Appraisal Procedures..........................................................................30
Hours.
The 15-Hour National USPAP Course..........................................................15
Hours.
Residential Market Analysis And 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.
APPRAISAL
CONTINUING EDUCATION
Every appraiser must complete
fourteen classroom hours of instruction in courses or seminars for each year during the period preceding the appraiser's renewal
year. For example, a two-year continuing education term would require twenty-eight hours.
The purpose of continuing education is to ensure that the appraiser participates in a program
that maintains and increases his/her skill, knowledge and competency in real estate appraising. Continuing education
hours may be obtained anytime during the term.
Appraisers
must successfully complete the seven-hour National USPAP Update Course, or its equivalent, at a minimum of every two years.
