The Appraisal Institute reports that the Appraiser Qualifications Board of The Appraisal Foundation on June 24 adopted changes to the Real Property Qualification Criteria, which alters the minimum requirements for supervisory appraiser qualification.
Under the new minimum requirements, appraisers can become supervisory appraisers once they’ve been state-certified in any jurisdiction for three years. Previously, supervisory appraisers were required to be state-certified in the jurisdiction in which a trainee appraiser practices for a minimum of three years. The change took effect July 1.
In announcing the change, the AQB stated, “Because the AQB sets the minimum requirements, state appraiser regulatory agencies having requirements that exceed AQB Criteria will remain in compliance, since the July 1, 2016 change does not exceed current requirements.”
The Appraisal Institute reports that this change is unlikely to have any significant impact because nearly all states enacted legislation and regulation to adopt the requirement that supervisory appraisers be certified in their jurisdiction for a period of three years when the AQB adopted changes to the criteria in December 2011. Those changes took effect Jan. 1, 2015. States will have to amend their laws and regulations for the new criteria changes to have any effect.
Click the link to Review the AQB’s changes regarding supervisory appraisers. You can see the full bulletin from the Appraisal Institute by clicking here.
Written and Published by: VanEd