Who Are My Peers?

[Eli]

What qualifications or credentials do they need in my market? I know they need a license but is that it? Can they have a license and have no appraisal experience in my market in years or ever? Can they have a license in China and be my peer? In my coverage area like a State or County or City?

 

[J Grant]

Do you mean who are your peers, or who is your competition for assignments? USPAP defines peers as below. That's the standard I use for peers...appraisers with an equivalent level of knowledge, experience ethics. As to appraisers you are competing with for assignments, clients are not bound by USPAP, we are. Clients who choose fast, cheap, and or number hitters may not be choosing those appraises we consider peers for similar type of assignments.

An Appraiser’s Peers 29 USPAP defines Appraiser’s Peers as: other appraisers who have expertise and competency in a similar type of assignment.

 

[bnmappraisal]

Can they have a license and have no appraisal experience in my market in years or ever?

This is a somewhat loaded question because (as always) "it depends"

In doing review work, I could review your RES report for a client, even though I've never been to TN if the SOW was to determine if the report met USPAP. In this case, I think I'd be a peer (Cert Res appraiser) who has expertise and competency in RES properties.

But a field review with opinion of market value of said RES report? I would NOT be considered a peer due to competency (I've never been to TN and don't know the market!)

 

[Terrel L. Shields]

 

[Meandering]

What qualifications or credentials do they need in my market? I know they need a license but is that it? Can they have a license and have no appraisal experience in my market in years or ever? Can they have a license in China and be my peer? In my coverage area like a State or County or City?

USPAP
DEFINITIONS

APPRAISER’S PEERS: other appraisers who have expertise and competency in a similar type of assignment.

 

[AMF13]

I'm pretty sure you are without peer, Eli.

 

[miktay]

Wish I was sitting on a pier right now....

 

[residentialguy]

TYPICAL RESPONSE WHEN QUESTIONING FNMA

 

[RSW]

I thought Eli meant "Beers" Where are my beers?

 

[residentialguy]

Da bears