The Appraiser Qualifications Board (AQB) of The Appraisal Foundation, which establishes the minimum education, experience and examination requirements for real property appraisers to obtain a state license or certification, has issued its June Q&A in response to appraisers’ questions.
The Q&A is meant to illustrate the applicability of the Real Property Appraiser Qualification Criteria (Criteria) and interpretations of the Criteria in specific situations and to offer advice from the AQB for the resolution of appraisal issues and problems.
On experience credit:
Q: I am a practicing real estate appraiser and my jurisdiction allows me to perform appraisals as an unregistered appraiser. If my appraisals are prepared in conformance with USPAP, will I be able to obtain experience credit?
A: Generally speaking, yes. The Criteria do not require an individual to possess a credential in order to obtain eligible experience credit. However, some states do require an individual to possess at least a trainee (or associate) credential to obtain creditable experience. If that is the case, an individual who is not legally able to obtain experience would not be able to use that time to satisfy the experience requirements, even if the reports were USPAP-compliant. In addition, some states do not allow experience obtained outside their state boundaries; therefore, it’s critical to check with your specific state.
On education needed to satisfy the Criteria:
Q: I have a degree from a university that was conferred prior to the university becoming accredited. Will I be able to use that degree to satisfy the college degree requirement in the Criteria?
A: No. The college or university must have been accredited at the time the degree was conferred.
On supervisory appraiser eligibility:
Q: I am a supervisory appraiser who has recently upgraded from certified residential to certified general. Am I allowed to continue to supervise my trainee appraisers, or do I need to wait until I have held the certified general credential for three years?
A: Yes. You are allowed to continue to supervise your current trainee appraisers. However, you must be competent in the property type and the geographic location of your practice. You may supervise the trainee appraiser in both residential and non-residential assignments that you are competent to appraise.
Q: I am a supervisory appraiser who has recently upgraded from certified residential to certified general and plan on employing trainee appraisers after Jan.1, 2015. Do I have to take the supervisor/trainee course, or am I grandfathered in because I had trainees prior to Jan. 1, 2015?
A: Yes. If you have not already taken the AQB-required supervisor/trainee course, you will be required to take the supervisor/trainee course if you are going to supervise any new/additional trainee appraisers after Jan. 1, 2015.
Q: I am a certified appraiser who has recently obtained a reciprocal license in another state. I have taken the required course for supervisory appraisers/trainee appraisers and have been certified for more than three years. Can I supervise trainee appraisers in the state where I recently obtained my reciprocal license?
A: No. The Criteria (page 55, Section 1[B]) requires supervisory appraisers to be “state-certified and in good standing in the jurisdiction in which the trainee appraiser practices for a period of at least three years.”
As such, you would have to wait for a minimum of three years after receiving the reciprocal license to supervise any existing or new trainee appraisers that are practicing within the jurisdiction of the reciprocal license.
The AQB Q&A may not represent the only possible solution to the issues discussed nor may the advice provided be applied equally to seemingly similar situations. AQB Q&A does not establish new Criteria. AQB Q&A is not part of the Real Property Appraiser Qualification Criteria. AQB Q&A is approved by the AQB without public exposure and comment.