California Office of Real Estate Appraisal (OREA) course approval process for CA Community Colleges

1. Office of Real Estate
Appraisal
Course Approval Process for
California Community Colleges
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2. Appraisal and OREA
What is OREA?
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3. 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.gov
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4. OREA
OREA operates to ensure:
 Appraisers meet minimum set requirements
 Educational requirements
 Experience requirements
 License
 Educate and discipline licensed appraisers
who violate standards of professional
conduct
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5. Educational Opportunities
How 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.
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6. 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 renewed
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7. Opportunity for Community
Colleges
The secret is out!
You can work with the OREA to have
your courses approved and placed on
the OREA data base of approved
courses.
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8. 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.
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9. 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”
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10. 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.
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11. 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!
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12. 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.
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13. 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.
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14. 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 Requirements
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15. 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 Requirements
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16. 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 Investments
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17. Questions?
Contact: Leo Bello, Program Chair, City
College of San Francisco at
LBello@ccsf.edu or the Real Estate
Education Center at REEC@ccsf.edu
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18. Thank You
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