• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Proposed Changes to Appraiser Qualifications (Draft Proposal

Status
Not open for further replies.

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Everyone should go read the new (third) draft proposal on the www.appraisalfoundation.org website. It is 28 pages long and contains sweeping reforms.

1. Only certified appraisers would be allowed to have "trainees". Licensed appraisers will not be able to have trainees.

2. Only two trainees per certified appraiser at any one time.

3. New appraisers would be required to have a college degree or equalivancy.

4. Much more formal appraisal education will be required.

The deadline for making comments to this proposal is December 1st. You can do it right on the website after you read the proposal. I would highly recommend you all give them some "feedback". There have been less than 400 comments so far.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Some of the scuttlebut I'm hearing is that if you don't have a college degree, you will have to have SIGNIFICANT experience, as much as 10 years before you can get your license. Can you imagine being a trainee that long?

Let's see.... Fannie and Freddie don't want to use appraisals- AVMs that are grossly inaccurate are O.K. HUD wants significantly reduced appraisal fees while ignoring other closing costs. New home subdivisions do not require appraisals if the builder is using his own lender - just a certification of the original appraisal for the first home. Most appraisers are over 50 and will retire in 20 years. And now AQB wants to reduce the number of appraisers coming on line.

I guess the appraisers that are part of the AQB simply want to protect what turf they have left.

Roger
 

Red Blumenstock

Sophomore Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Florida
RStrahan said:
Some of the scuttlebut I'm hearing is that if you don't have a college degree, you will have to have SIGNIFICANT experience, as much as 10 years before you can get your license. Can you imagine being a trainee that long?

This is an example of how rumors get started. There is no such requirement. I hope you will do as suggested and read the entire Exposure Draft. The College alternative is 30 hours of qualified subjects for a General applicant and 21 hours of qualified subjects for a Residential applicant. There is a requirement proposed that a General applicant will have to have 300 hours of education and the residential will need 200. There is no 10 year requirement.
 

Fred

Elite Member
Joined
Jan 15, 2002
Professional Status
Retired Appraiser
State
Virgin Islands
Without some type of comprehensive "grandfathering" that says none of this can be applied to people licensed prior to a certain date, this proposal will obsolete some licenses.

For example, suppose you do not have a degree want to move to a state that does not have reciprocity. You would not be qualified to sit for the licensing exam, even if you have been appraising for 30 years, authored five texts and personally mentored the members of the AQB.
 

Ben Vukicevich SRA

Senior Member
Joined
Feb 9, 2002
Professional Status
Certified General Appraiser
State
New Jersey
Wow,

Only 30+- years late. With the exception of 1 and 2 which are post FIRREA and currently good ideas, the "new" requirements would be the old requirements for the SRA designation with the Society of Real Estate Appraisers............in 1975.

Ben
 

David Bodtcher

Junior Member
Joined
Oct 18, 2002
Professional Status
Appraiser Trainee
State
Utah
Ok, now lemme see if I understand this:
I just received my trainee license, which means, if I become a licensed residential appraiser in one year, this proposal still will not take effect, so i don't have to meet the requirements for them at that time, or will i need 140 hours of education in one year to become a licensed residential appraiser?
 

Tejus

Member
Joined
Nov 1, 2002
Professional Status
Certified Residential Appraiser
State
Texas
Mike, I appreciate your post notifying the forum about the proposed changes. Unfortunately, there was very little time to respond.

I have one suggestion for the future. I'm not sure who to submit it to, so I'll include it here and maybe it'll get to the proper people:

Require the Appraisal Foundation to provide a minimum review time for the proposed changes. The Appraisal Foundation must publicly announce the changes and make them available for review. Somebody in the Appraisal Foundation must be responsible for distributing this information to the different Appraisal Organizations and user forums to obtain feedback.

If the Appraisal Foundation did advertise the changes and provide a reasonable review time period, then I apologize and withdraw my suggestion. If Appraisers have a reasonable time period to review and respond to the changes, then they have no argument if nobody responds.
The current 400 responses out of approx 250k appraisers nationwide, is a .16% turnout, i.e. < 1%. Either the Appraisers don't know about the issues or don't care.

My $.02.
 

Fred

Elite Member
Joined
Jan 15, 2002
Professional Status
Retired Appraiser
State
Virgin Islands
Alan,
All current expousre drafts are perpetually on display at the AF web site.
https://www.appraisalfoundation.org/html/PD...AQC10-11-02.PDF
Responses to AF exposures have always been light. Although, they don't help matters. They would count official position papers from each of the AI, ASA, NAIFA, and NAR as four responses.

Ben,
If the new requirements will make everyone the equivalent of an SRA, will appraisers and the market cease to recogniae the designation as having any value?
 

George W Dodd

Senior Member
Joined
Jul 9, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
The SRA designation lost most of its value when the AI gave up on residential appraisers.

George W. Dodd, SRA
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks