Appraisal Class Approval for Community Colleges

Office of Real Estate Appraisal Course Approval Process for California Community Colleges2/6/2012 California Community College Real Estate 1 Education Center

Appraisal and OREA What is OREA?2/6/2012 California Community College Real Estate 2 Education Center

State of California Office of Real Estate Appraisers Title XI of the Financial Institutions Reform Recovery and Enforcement Act of 1989 (FIRREA) requires all states to regulate persons who appraise real property in federally related transactions. In response to the act the California Legislature created OREA. Website: http://www.orea.ca.gov2/6/2012 California Community College Real Estate 3 Education Center

OREAOREA operates to ensure: Appraisers meet minimum set requirements Educational requirements Experience requirements License Educate and discipline licensed appraisers who violate standards of professional conduct2/6/2012 California Community College Real Estate 4 Education Center

Educational OpportunitiesHow can you or the college participate?A simple process of documentation and forms submission helps you or the college: Become a OREA course provider with approval number. Offer OREA approved courses with approval number.2/6/2012 California Community College Real Estate 5 Education Center

Course Provider Accreditation Must be accredited by OREA Submit Accreditation form REA 3013 Offer only approved educational courses Providers must cooperate with investigation or auditing of courses, instructors, and students. Submit fees. Estimate $300 (No charge if you are an accredited community college. Accreditation is issued for a 4 year period and may be renewed2/6/2012 California Community College Real Estate 6 Education Center

Opportunity for Community CollegesThe secret is out!You can work with the OREA to have your courses approved and placed on the OREA data base of approved courses.2/6/2012 California Community College Real Estate 7 Education Center

Real Estate College Classes  College courses can be used to satisfy educational requirements for OREA  Course must obtain OREA accreditation  College must have accreditation as a provider ( U.S. Office of Education )  OREA accredits both course providers and individual courses.2/6/2012 California Community College Real Estate 8 Education Center

Course Providers  Appraisal related courses offered by colleges or universities which are accredited by a regional body of the U.S. Office of Education do not require OREA approval.  To ensure that students are awarded proper credit for courses, OREA strongly encourages to submit forms and information to OREA.  Fees are waived for Colleges- “FREE”2/6/2012 California Community College Real Estate 9 Education Center

Course Providers  Colleges or universities which are accredited by a regional accrediting body of the U.S. Office of Education are not required to obtain OREA accreditation.2/6/2012 California Community College Real Estate 10 Education Center

OREA Recommends OREA strongly encourages colleges to submit:  Course Accreditation & Description ( Form REA 3014 )  OREA Topic Matrix ( Form REA 3015)  Course outline/syllabus/textbook information OREA will after review add the course and approved topics to the databases. This eliminates the need for students to submit the information with their applications-A great time saver for your students!2/6/2012 California Community College Real Estate 11 Education Center

Instructor Qualifications Must meet at least one of the following criteria:  Bachelors degree or higher in field related to real estate;  Hold a valid teaching credential or certificate to teach in the field of knowledge;  Have five years full-time work experience in the field being taught; or  Have a combination of full-time work experience and college level education totaling five years.2/6/2012 California Community College Real Estate 12 Education Center

Basic Education Requirements  Trainee License – 150 hours of education / 15 National USPAP course  Residential License – 150 hours of education / 15 National USPAP course  Certified Residential License – 200 hours of education / 15 National USPAP course  Certified General License – 300 hours of education 15 National USPAP course.2/6/2012 California Community College Real Estate 13 Education Center

Note  OREA requires that a topic matrix be completed for each of your course.  Each course should have a certain amount of hours that fit the educational matrix.  Courses can be approved, have accreditation for specific hours to meet both; Educational Licensing Requirements Continuing Educational Requirements2/6/2012 California Community College Real Estate 14 Education Center

Note  OREA requires that a topic matrix be completed for each of your course.  Each course should have a certain amount of hours that fit the educational matrix.  Courses can be approved, have accreditation for specific hours to meet both; Educational Licensing Requirements Continuing Educational Requirements2/6/2012 California Community College Real Estate 15 Education Center

Qualified CoursesPrinciples of AppraisalAdvance AppraisalReal Estate EconomicsLegal Aspects of Real EstateReal Estate Property ManagementReal Estate FinanceReal Estate Tax Analysis and Investments2/6/2012 California Community College Real Estate 16 Education Center

Questions? Contact: Leo Bello, Program Chair, City College of San Francisco at LBello@ccsf.edu or the Real Estate Education Center at REEC@ccsf.edu2/6/2012 California Community College Real Estate 17 Education Center

Thank You2/6/2012 California Community College Real Estate 18 Education Center

Appraisal Class Approval for Community Colleges

by California Community College Real Estate Education Center on Feb 06, 2012

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