Tuesday , 20 February 2018

National Board Adopts Revised Criteria for Real Property Appraiser Qualifications

The Appraiser Qualifications Board (AQB) of The Appraisal Foundation recently adopted revisions to the Real Property Appraiser Qualification Criteria. These changes, which become effective on May 1, 2018, will serve to reduce or eliminate unnecessary barriers to entry into the real estate appraisal profession in the US.

After approximately a three-year process of considerations the proposed changes were presented to the public at formal hearings, focus group sessions and several Board meetings.  The AQB changes include several options for entry into the residential appraisal profession as well as the number of experience hours and timeframe requirements.

We sat down with John Brenan, Director of Appraisal Issues from The Appraisal Foundation to learn more about the new criteria.

“The primary objective the AQB is to promote and maintain public trust in the appraisal profession. So, every several years, the AQB examines the criteria to make sure it is appropriate for current appraisers.” Brenan said.

The new criteria outlines a reduction of experience, hours of experience and length in time to gain the experience but it increases the amount the individuals are being tested through practice base national-examinations and through the required core curriculum for qualifying education.

“The Board feels there could be a better balance when it comes to education, experience, and examination.” Brenan continued to say, “The qualifications board believes this adjustment will help reduce any unintentional barriers to enter the profession, while ensuring potential appraisers will be minimally qualified to practice.”

The new changes to the criteria will not affect any current appraisers or any appraisers who become certified before the changes are in place. Any current appraisers who wish to switch certifications will have to abide by the new criteria.

“There has been division over some of these issues but what the Board has done is really to think outside the box and try to examine how someone can be minimally qualified in different ways. Experience has always been a major component that people look at, but the current trainee/supervisor model just isn’t working, and that fact is not debated by many at all. Almost all parties agree it is very difficult for new appraisers to get experience hours and I believe the AQB did a fantastic job thinking outside the box for ways people can attain the minimal qualifications necessary to become an appraiser.”

For a summary of the new criteria, please click here.

John has been the Director of Appraisal Issues for The Appraisal Foundation since October 2003. In this capacity, John serves as the Foundation’s senior staff contact regarding the work of the Appraisal Practices Board (APB), Appraisal Standards Board (ASB), and Appraiser Qualifications Board (AQB).

Prior to his current position, John spent 8½ years as the Chief of Licensing and Enforcement for the California Office of Real Estate Appraisers (OREA). In that role, John administered the largest real estate appraiser licensing program in the United States, evaluating applicants for compliance with both federal and state requirements. John was also responsible for California’s enforcement program; educating and/or disciplining licensees who violated law, regulations or USPAP. John worked with local, state, and federal law enforcement agencies regarding cases involving fraud.

John has been in the appraisal profession since the early 1980s. Prior to joining OREA in February 1995, he worked as a staff appraiser and fee appraiser for several large financial institutions, appraising both residential and non-residential real estate covering a wide variety of property types. He also previously managed an appraisal department for a major financial institution. John is a Certified General appraiser, AQB Certified USPAP Instructor, and a Fellow with the Royal Institution of Chartered Surveyors. John holds a Bachelor’s degree in Business Administration from California State University, Long Beach.

Comments

About Melissa Candolfi

Melissa Candolfi
Melissa Candolfi, Director of Marketing with Allterra Group oversees the development of Appraisal Buzz Newsletter and marketing efforts for Appraisal Buzz and Valuation Expo. A graduate from West Virginia University in 2013 with a BS in Public Relations and Marketing. Melissa is excited to be apart of the team and continue to help grow Appraisal Buzz and Valuation Expo. To contribute to the Appraisal Buzz Newsletter please contact Melissa at mcandolfi@allterragroup.com

Check Also

Are You An Early Adopter?

This article was first published in the Appraisal Buzz Magazine. Did you not receive your …