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 judgement 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 (WHERE PERMITTED BY STATE REGULATIONS)
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.
LICENSED RESIDENTIAL REAL PROPERTY APPRAISER
Examination: The
AQB approved Licensed Residential Real Property Appraiser Examination must be successfully completed. There is no alternative
to successful completion of the examination.
Qualifing Education: The preequisite for taking
the AQB approved examination is completion of one hundred fifty (150) creditable class hours as specified in the required
Core Curriculum. The applicant shall complete 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.
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.
Experience: Two thousand (2,000) hours of experience obtained in no fewer than 12 months is required.
CERTIFIED RESIDENTIAL REAL PROPERTY APPRAISER
Examination:
The AQB approved Certified Residential Real Property Appraiser Examination must be successfully completed. There is
no alternative to successful completion of the examination.
Qualifying Education: Applicants
for the Certified Residential license must hold an Associate Degree, or higher, from an accredited college, junior college,
community college, or university. In lieu of the Associate Degree, an applicant for the Certified Residential license
shall successfully pass the following collegiate subject matter courses from an accredited college, junior college, community
college, or university:
English Composition;
Principles of Economics (Micro or Macro);
Finance;
Algebra,
Geometry, or higher mathematics;
Statistics;
Introduction to Computers-Word Processing/ spreadsheets;
Business
of Real Estate Law.
Total credits are the total hours of equivalent college courses in lieu of
an Associate Degree or 21 semester credit hours for the Certified Residential Appraiser.
The
prerequisite for taking the AQB approved examination is completion of two hundered (200) creditable class hours as specified
in the required Core Curriculum. The applicant shall complete 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.
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.
Experience: Two thousand five hundred (2,500) hours of experience obtained during
no fewer than twenty-four (24) months is required. While the hours may be cumulative, the required number of months
must accrue before an individual can be certified.
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.
