RES
The purpose of the RES designation is to recognize professionalism and competency in the valuation of residential property for tax purposes.
IAAO members may use this designation in conjunction with the valuation of a wide range of property intended to be used exclusively for residential purposes as it is customarily defined in their assessment jurisdiction in accordance with IAAO's commitment to excellence.
10.2.6.1 To qualify for the RES designation, the following general requirements must be fulfilled on the date of sitting for the Master Examination.
(a) The candidate must be an IAAO member and a candidate in good standing in the RES program.
(b) The candidate must have at least three (3) years of experience in appraising residential real property.
(c) The candidate must have credit for the following six (6) educational courses:
(1) IAAO Course 101: Fundamentals of Real Property Appraisal
(2) IAAO Course 102: Income Approach to Valuation
(3) IAAO Course 300: Fundamentals of Mass Appraisal
(4) IAAO Course 311: Residential Modeling Concepts
(5) Either IAAO 151 or a Foundation approved two-day USPAP course if an IAAO designation candidate prior to January 1, 2003 or if an IAAO designation candidate after December 31, 2002 then either IAAO 151 or a Foundation approved two-day USPAP course and either IAAO 171 Standards of Professional Practices and Ethics or IAAO online Standard of Practice and Professional Ethics Supplement. Examination cannot be challenged.
August 16, 1996 Deleted “and equivalent course not accepted.”
July 17, 1998 Deleted 10 year requirement on course look back
May 17, 2003 Deleted “IAAO Workshop: Standards of Practice and Professional Ethics (Examination cannot be challenged)”
November 15, 2008 Removed ‘or their equivalents’ from (C).
(d) The candidate must have satisfactorily completed either:
(1) a real property demonstration appraisal report, using all recognized approaches to value, on a single-family residence, or
(2) a real property demonstration appraisal report on the computer-assisted valuation of a group of residential properties, or
(3) an eight- (8-) hour case study examination and Course 201. If the candidate does not successfully complete the case study requirement after two (2) attempts, a different project must be selected to fulfill this requirement.
(4) If a candidate for a RES is also on an equivalent real property appraiser certification or licensing track administered by an organization, country, province or state requiring successful completion of a real property demonstration appraisal report, the candidate may seek a waiver of the IAAO requirement by submitting the appraisal report approved by his/her organization, country, province or state satisfying section 10.2.6(d) (1) provided that the organization, country, province or state has previously entered into a real property demonstration appraisal report and grading standards waiver agreement with the IAAO.
(e) The candidate must pass a four-hour RES Master Examination. This examination can be given only after all other requirements have been met.
(f) Upon successfully completing the RES Master Examination, the candidate must submit an affidavit attesting to experience before the designation can be conferred.
(g) The candidate must be a high school graduate or the equivalent.
(h) Members applying for candidacy on or after January 1, 2014, must, prior to receiving the RES designation, hold an Associate’s degree or higher from an accredited college, junior college, community college, or university,
Or
In lieu of the Associate’s degree, have equivalent semester credits as specified in the Appraiser Qualifications Board requirements.
August 2, 2002 Added the alternative of a case study examination and course 201.
November 5, 2010 Added Associate Degree requirement.
The Master Examinations--RES
The written master examination for the RES designation is specific to the subject. It is a test of competence, testing the candidate's knowledge of the specific subject. The examination is given only after all general and specific requirements have been satisfactorily completed.
The examination may be administered by a proctor at any location and on any date; it is preferred that the proctor be a CAE designee, or a designation holder in the specialty. However, the Professional Designations Subcommittee (PDS) may authorize a non-designee to proctor the examination. Proctors cannot be related to the candidate, nor may they proctor if there is any potential conflict of interest. An oral examination may be required at the discretion of the PDS.
- A candidate failing a master examination is permitted to retake it after thirty (30) days.
- A candidate who fails the master examination and received credit for the demonstration appraisal via waiver must submit the demonstration appraisal to the IAAO Demonstration Appraisal Grading Subcommittee for grading prior to retaking the examination.
