AQB Proposed Changes

[kfallsalan]

Does anyone know where the AQB is at with this? any inside info?

 

[Howard Klahr]

The Appraiser Qualifications Board will hold a Public Meeting in Tampa, FL on April 7, 2017.
**This meeting is being held in conjunction with the Association of Appraiser Regulatory Officials (AARO)**

 

[kfallsalan]

Thanks for the info.

 

[Digger88]

wonder if they are going to propose to do away with the 4 year degree requirement for cert appraisers?

 

[Deleted member 128537]

wonder if they are going to propose to do away with the 4 year degree requirement for cert appraisers?

I just got done reading some information on it, but it's a bit confusing. They have really messed this up big time. If the AQB thinks that someone get get 1000 hours of experience through a practicum course they are out of their minds. I would never hire an appraiser based upon a practicum course without the necessary field work. I might train them further, but that's it. The field is far different than a course in a classroom with cookie cutter houses.

 

[SD Capital Investment]

Can anyone give an update on what was discussed during the meeting?

 

[Digger88]

https://appraisalfoundation.sharefile.com/share?#/view/s47a6e3641ae44138

 

[Digger88]

im confused... they are saying they are removing the bachelors requirement for licensed, actually i got that. what they then say is you can also skip a bachelors degree to get certified if you do 1 of 2 things. either pass CLEP or pass 21 credits in college level classes. is that right?


After considering the comments received in response to the Second Exposure Draft and
prior outreach efforts including the First Exposure Draft, the AQB is proposing removing
the college-level education requirement for the Licensed Residential credential in its
entirety, and maintaining the Bachelor’s degree requirement for the Certified Residential
credential.
The AQB heard from a substantial number of stakeholders that many appraisers who hold
the Licensed Residential credential have demonstrated their competency to provide
quality residential appraisal services particularly if they have been practicing for several
years with no record of disciplinary action.
While the AQB maintains the position a Bachelor’s degree is a significant component
towards ensuring the public trust in the appraisal process, the Board is aware of and
understands the substantial time and financial commitment necessary for Licensed
Residential credential holders to obtain a Bachelor’s degree while operating a competent
and ethical appraisal practice. Therefore, the AQB proposes the holders of the Licensed
Residential credential have an option to demonstrate their ability to complete college level
education while maintaining public trust in the appraisal process. This option will provide
Licensed Residential credential holders with much of the educational benefit of a college
degree, particularly related to the skill sets minimally required of a competent appraiser
in order to maintain the public trust.
For holders of the Licensed Residential credential seeking a Certified Residential
credential, the AQB is proposing two options to demonstrate specific college-level
equivalency. The first option is to pass College-Level Examination Program (CLEP)1
exams equivalent to a minimum of 21 semester credit hours in specified subject matter
areas. CLEP is a well-recognized testing program accepted by 2,900 colleges and
universities.2 The specific subject areas considered necessary to protect the public trust
include:

 College Mathematics
 Principles of Macroeconomics
 Principles of Microeconomics
 Introductory Business Law
These specific CLEP exams are available at many testing centers across the country and
will serve to demonstrate an individual possesses the academic skills required to preserve
and maintain public trust in the appraisal profession.
The second alternative to a Bachelor’s degree is to allow Licensed Residential appraisers
seeking the Certified Residential credential to document successful completion of 21
semester hours of specific collegiate courses from an accredited college, junior college,
community college, or university. The specific subject matters proposed are:
 English Composition (6 semester hours)
 Economics or Finance (6 semester hours)
 Algebra, Geometry, Statistics, or higher mathematics (6 semester hours)
 Business Law or Real Estate Law (3 semester hours)
A third alternative to the Bachelor’s degree includes any combination of CLEP tests and
college semester hours as indicated above, provided all of the topics were covered.

 

[Mr Rex]

There is an article in the Spring Working RE magazine:

http://www.workingre.com/AQB-digs-in-college-degree-experience-requirements-to-change/

 

[Deleted member 128537]

I have a degree in Economics. I have taken economics, business law, statistics, calculus, finance, and 2 semesters of english composition. That is about 21 hours of college courses. Although I've gone beyond that minimum since I have 30 hours of econ course. But the basic requirement is going to cost about $5,000 to $8,000 if done at a state school. You better be highly committed to being an appraiser to lay out that kind of cash. And those courses are not easy to pass. But here's the other "kicker." Most schools will not let you take a finance course unless you first take pre-requisites like calculus or pre-calculus. And I remember that finance was one of the hardest courses I took and I graduated summa come laude (phi beta kappa). That course was grueling! I remember the 2 hour final was one problem. Frankly if someone is smart enough to pass those types of college level courses they are probably college graduates. As I remember those courses were often weed out courses at universities; at least they were at the place I went. Maybe they are easier now. But there were a lot of business school majors that changed majors after that first economics course. And who the heck is going to sit down and take a test on those courses and pass them without having taken those courses? If they are that smart they are going to get a degree anyway.