State Appraisal Appointment May Violate Law

Mitch Weiss, author of a previous news article which details the failures of the appraisal regulatory structure, has written a second article questioning the appointment of a Real-estate attorney to the North Carolina Appraisal Board.

According to the article:

Senate leader Marc Basnight has appointed a real estate lawyer to the North Carolina Appraisal Board, an apparent violation of a state law that requires the seat be filled by someone not involved in the real estate profession.

However, the more interesting section of this article continues the narrative that state appraisal boards are failing in their duty to remove bad appraisers from the profession:

In North Carolina, the investigation showed the board has allowed appraisers who have been disciplined over and over to stay in business. Many repeat offenders had their suspensions reduced if they agreed to take appraiser education classes.

Ipock and others attributed those problem in part to the North Carolina’s “good old boy system – where all the appraisers and board members know each other.” They said the board has been reluctant to discipline repeat offenders.

“That’s why we need people outside the industry on the board,” Ipock said.

It will be interesting to see what else Mitch Weiss uncovers. Clearly, he hasn’t finished his investigation, and there appear to be plenty of appraisers who are quite willing to speak out against the current state regulatory structure.

  1. Dhanraj Singh

    RE Appraisal Board Appointment in North Carolina:
    Senate leader Marc Basnight should stick to the state law & not appoint anyone from ourside of the real estate profession to the board. There was obviously a reason for that law.
    However, Appointees should be held to a high standard of discipline for the good of the profession & weed out bad appraisers when they find them.