The Appraisal Foundation (TAF) recently issued its April Newsletter with important information for appraisers. TAF President Kelly Davids brought to light more news from the Appraiser Qualifications Board (AQB) and the Appraisal Standards Board (ASB).
“Spring has sprung and, with it, the release of two new concept papers! This is one of those rare times that both the Appraiser Qualifications Board and Appraisal Standards Board have concept papers available for public comment at the same time, and I hope you will take advantage of this opportunity to have your voice heard in the development of standards and qualifications,” Davids wrote.
“First up, the AQB released their concept paper on additional experience options last month. This is a continuation of their work to conduct a comprehensive review of all qualification criteria. The comment deadline for this paper is May 9, and you can join the upcoming AQB public meeting today to learn more.”
Davids reminded appraisers that the concept paper released late last year addressed college courses and degree-related requirements. This new paper, she emphasized, continues that work by exploring additional experience options.
While work on exam-related requirements is still underway, the TAF president added, the AQB’s goal is to issue an exposure draft addressing these topics as soon as possible—ideally by the end of the year, though that timeline may shift depending on the scope of the remaining work.
Turning to the ASB, Davids pointed out that April 1 was the release day for the ASB’s new concept paper focusing on artificial intelligence.
“This follows last fall's artificial intelligence forum and is a continued exploration of the potential impacts artificial intelligence might have on appraisers and the appraisal standards. The public comment deadline for this concept paper is May 31,” Davids said.
To access both concept papers and all of the information needed to comment, appraisers should go to TAF’s Exposure Drafts webpage.
“I do hope you will all take this unique opportunity to share your feedback with both boards as they consider these important topics,” Davids said. “Your input will shape the future of the profession.”