If you are looking to add a minor to your degree but don’t know what to take you’re in the right place. The Land Valuation and Rural Real Estate is a relatively new and unknown minor. So, here’s some information about what the minor means, its coursework, and what careers it pairs well with. Take a look and see if this minor is right for you.
Land Valuation Minor
The Land Valuation and Rural Real Estate minor was created through discussions over the past decade with the South Dakota chapter officers of the American Society of Farm Managers and Rural Appraisers (ASFMRA) who shared increasing concerns regarding the job market gap in qualified property appraisers. The need to fill jobs combined with the increase in students wanting careers in ag lending, real estate, and insurance made this minor a great fit for the Ness School.
According to instructor Ryan McKnight, SDSU is 1 of 9 schools in the nation that have received accreditation approval from the Appraisal Qualifications Board.
The Coursework
You can add this minor to your degree with just four core courses. The minor is 19 credits and consists of these courses: Rural Real Estate Appraisal and Lab (AGEC-473/l), Real Estate (BLAW 433), Principles and Procedures of Valuation (BLAW 453) and a choice of law course (AGEC 350 - Environmental Law Credits, AGEC 352 - Agricultural Law Credits, or BLAW 351 - Business Law).
Students will also select an emphasis of six credits for more focused experience in areas of interest based on specific careers: 1) Agricultural and Rural, 2) Land Use Planning, 3) Rural Finance and Banking, and 4) Rural Construction
SDSU’s Principles and Procedures of Valuation covers the first two courses you need to take to become an appraiser in the state of South Dakota.
“If a student earns this minor within their respective major, the student will get a substantial reduction in their appraiser hours. Meaning, they can climb faster to the certified qualification,” McKnight noted.
McKnight also noted that they are in the process of filing paperwork with the SD Real Estate Commission that would waive the 116-hour requirement to take the State and National Realtor test for students that complete the minor.
Additionally, after this course is completed, the SD Appraisers Association will offer the 15 Hour Uniform Standards of Professional Appraisal Practice. After a student has completed BLAW 453 and USPAP, the student can sit for the State and National Appraiser Exam. The State and National Appraiser Exam is all electronic, offered at the student's convenience. The minor allows students to sit for the Abstracting test as well.
One of the main goals of the program is to provide a higher quality preparation for a broad portfolio of careers in bank lending, real estate investment trusts, farm, and estate succession planning, insurance, construction firm management, economic development and planning, as well as providing specific preparation towards appraisal and/or real estate certification and licensing.
Say hello to employment opportunities
The increasing demand for qualified and licensed brokers in agricultural land management, land appraisal and land investing services in South Dakota, the northern high plains, and in the U.S. Employment of appraisers and assessors of real estate is projected to grow 14% from 2016-2026, faster than the average of all occupations. In South Dakota, the employment of appraisers and assessors of real estate is projected to grow 7.9% through 2024.
Visit with your professor for more information.