Changes to the Real Property Appraiser Qualification Criteria

On February 1st, 2018 the AQB adopted changes to the appraiser qualification criteria effective May 1st, 2018. The Appraisal Foundation encourages all to check with their individual state to see what else may be required.

Under the provisions of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), the Appraiser Qualifications Board (AQB) establishes the minimum education, experience, and examination requirements for real property appraisers to obtain a state license or certification.

State appraiser regulatory agencies are required to implement real property appraiser licensing and certification requirements that are no less stringent than those issued by the AQB in the Real Property Appraiser Qualification Criteria (Criteria).

Important Note: On February 1, 2018, the AQB adopted changes to the Real Property Appraiser Qualification Criteria that will go into effect on May 1, 2018. Individual states may choose to implement on or after May 1, 2018 (but may opt to keep the current Criteria in place). It is important for individuals to check with their state regulatory agencies to determine what the requirements are in their state. 

In the near future, a Real Property Appraiser Qualification Criteria booklet, based on the May 2018 Criteria, will be available; in the meantime, a PDF of the Criteria is available for download. Additionally, you can download a Summary of Changes to the Real Property Appraiser Qualifications Criteria.

Source:  CoesterVMS.net, an appraisal management company in USA.