Appraisal Foundation FAQs
2010-01: ETHICS RULE – CONDUCT
Question: If I have appraised a property multiple times within the previous three years, do I have to disclose the number of appraisal services? (e.g., “I have appraised the subject property three times during the previous three years.”)
Response: Yes. Each prior service must be disclosed to the client and included in the report certification. This disclosure is similar to when an appraiser has any current or prospective interest in the subject property or the parties involved, which requires that each interest be specified. Therefore, each service must be disclosed to the client and appear in the certification. (See lines 231-241 in the 2010-11 edition of USPAP)
2010-02: ETHICS RULE – CONDUCT
Question: If I have performed a service other than appraisal practice, such as acting as a general contractor within the prior three years, do I have to describe the specific service or merely state a service was performed?
Response: You must disclose to the client the type of prior service you performed regarding the property and this must be included in the report certification. This disclosure is not limited to services provided as part of appraisal practice. Therefore, each service must be disclosed to the client and appear in the certification.
2010-03: ETHICS RULE – CONDUCT
Question: The Comment to the Conduct section of the ETHICS RULE states, in part, “If an appraiser has agreed with a client not to disclose that he or she has appraised a property, the appraiser must decline all subsequent assignments that fall within the three-year period.” Does this really mean that the appraiser could not be engaged by this same client, on this property, within the three-year period?
Response: Yes. The agreement not to disclose that he or she has appraised the property is between an appraiser and the client. It is possible that a qualified legal opinion might conclude that a confidentiality agreement between an appraiser and a client does not preclude disclosure between the same parties. However, the ASB is not qualified to make such a determination. Without such a legal opinion, the requirement precludes an appraiser from disclosing the prior service and from appraising the property again during this three-year disclosure period.
However, there is nothing that prohibits a client and an appraiser from modifying the prior agreement to allow disclosure. If the confidentiality agreement is amended, the disclosure could be made and an appraisal could be completed for the same client. It must be made clear that if a client releases an appraiser from such a confidentiality agreement, services performed within the previous three-year period must be disclosed in the certification of the subsequent report, even if the client is the same for both assignments.
2010-04: ETHICS RULE – CONDUCT
Question: I am a staff appraiser for a company and only complete appraisals for my employer’s (the company’s) internal use. Am I required to inform the company that I have previously completed an appraisal within the three-year period when the company is already aware of it?
Response: If you consistently correspond with the same person in the company when completing subsequent assignments regarding the same property, the risk of misleading that person is probably minimal. However, your prior services must still be disclosed. When you are working with the same person and they understand your professional responsibilities, it is unlikely this will be a problem.
It is also possible that the specific person you deal with from one instance to the next may change. In this case, the new contact must certainly be informed if you have performed services regarding the subject property within the last three years.
While it is not included in your question, there is also the possibility that you may have performed services regarding that property for a different client within the three-year period, or performed another type of service.
2010-05: ETHICS RULE – CONDUCT
Question: I am aware of the new disclosure requirements in the Conduct section of the ETHICS RULE for the 2010-11 edition of USPAP that requires me to disclose any services I performed regarding the subject property within the prior three years. If I have not performed any such services, am I required to make that disclosure as well?
Response: No. USPAP does not specifically require disclosure when no prior services were performed by the appraiser within the last three years.
Appraisal Foundation creates Appraisal Practices Board (APB)
The Appraisal Foundation Announces
Establishment of New Independent Board
Appraisal Practices Board (APB) to Commence Work in July 2010
The appraisal foundation has announced the formation of a new board, the Appraisal Practices Board APB). This board joins the Appraisal Standards Board (ASB) and the Appraiser Qualifications Board (AQB). This posting will try to explain what is going on with the new board. The press release follows this posting. The idea behind the new board is to provide specific guidance on various techniques and methods used in the appraisal process. USPAP refers to “recognized methods and techniques that are necessary to produce a credible appraisal” (Standards Rule 1-1 (a). In the past, guidance and methodology for methods and techniques has been left to the sponsoring organizations of the Foundation and they continue to do an excellent job of educating their members. It has become very apparent however that many of the appraisers in the United States are not affiliated with any professional appraisal organization and consequently are not getting this kind of guidance.
The past few years has seen a major shifting of market conditions in real estate, particularly residential real estate. Many of the appraisers who have been licensed over the past ten years had never gone through a down market and were unprepared to adjust their practice to recognize the shifts, particularly where downward adjustments were required for market conditions. There has also been a huge increase in foreclosed properties which has raised the question “should foreclosed properties be used as comparable sales”. Each of these examples shows the need for timely education on these subjects.
The sponsoring organizations of the Foundation have stepped up to the plate and introduced new timely courses covering these subjects and much more. Unfortunately, many appraisers were not exposed to these courses for various reasons. I can positively state as a state regulator that we are getting several appraisers appearing before our board who do not seem to know what to do in this market. These people for the most part of trying to good job and produce credible appraisals but they just don’t have the knowledge or training. It is the hope of the Foundation that we will reach these people better than they are being reached now.
The specifics of the new board will be finalized over the next few months and applications for the new board will be taken in the spring. For further information please refer to the following press release.
Joe Traynor (Note – Joe is NAR’s representative to the Appraisal Foundation’s Board of Trustees).
Appraisal Foundation – October Q&A
Client Request to Limit Scope of Work to New Client Name
Question: An appraiser completed an appraisal for Client A. Client B received a copy of the appraisal from Client A and finds it acceptable for their purposes, but wants to be identified as the client in the appraisal report. Client B is aware that appraisers are prohibited from readdressing (or transferring) a completed report to a different client’s name. As a result, Client B would like to engage the appraiser in a new assignment, limiting the appraiser’s scope of work to only identifying them as the new client. Can the appraiser complete the assignment from Client B under these terms?
Response: No. USPAP requires the scope of work performed to produce credible assignment results. USPAP clearly establishes that the scope of work is determined by the appraiser. If a client’s instructions (i.e. assignment conditions) limit the appraiser’s scope of work in a new assignment to simply identifying a new client, the client, not the appraiser, has made the scope of work decision.
In addition, even if the appraiser accepted the client’s proposed scope of work as his or her own, that scope of work may not be adequate to produce credible assignment results as required by USPAP. As is the case with all assignments, when a client’s assignment conditions are too restrictive to produce credible assignment results, an appraiser must decline or withdraw from an assignment.
Client Requirement to Disregard Market Value Changes Prior to Effective Date
Question: I am aware of the ASB’s June 2008 Q&A which addressed the implementing regulation, 49 CFR Part 24, for The Uniform Relocation Assistance and Real Property Acquisitions Act of 1970, as Amended (the Uniform Act). The topic of this Q&A is the relationship of Standard Rule 1-4(f) and “Before Acquisition Value.” The ASB pointed out that such a situation does not create a jurisdictional exception under USPAP, but is rather an assignment condition.
My state has a similar law that requires the appraiser to disregard any decrease or increase in market value of the property prior to the effective date of value caused the by the public improvement for which the property is being acquired. Is this state law a jurisdictional exception under USPAP?
Response: No. The state law is not a jurisdictional exception in this case. USPAP SR 1-4(f) becomes applicable in an assignment only if the scope of work includes the analysis of anticipated improvements:
When analyzing anticipated public or private improvements, located on or off the site, an appraiser must analyze the effect on value, if any, of such anticipated improvements to the extent they are reflected in market actions. (Bold added for emphasis)
As was pointed out in the June 2008 Q&A response, the key word in SR 1-4(f) is “When.” Your state law does not conflict with USPAP because the word When indicates that SR 1-4(f) is only applicable in the circumstance that public or private improvements must be analyzed in order to develop credible assignment results.
The recently adopted 2010-2011 edition of USPAP that becomes effective on January 1, 2010, is intended to enhance clarity and understanding in application of the JURISDICTIONAL EXCEPTION RULE. While there are no new requirements, the following four steps have been added to the RULE:
In an assignment involving a jurisdictional exception, an appraiser must: 1) identify the law or regulation that precludes compliance with USPAP; 2) comply with that law or regulation;3) clearly and conspicuously disclose in the report the part of USPAP that is voided by that law or regulation; and 4) cite in the report the law or regulation requiring this exception to USPAP compliance.
Client Requirement to Disregard the Influence on Market Value of Public Improvements
Question: I am aware that development of an opinion of market value also requires development of an opinion of reasonable exposure time linked to the value opinion. The assignment I am working on has an assignment condition under the Uniform Appraisal Standards for Land Acquisitions (the Yellow Book) that requires me to disregard any decrease or increase in market value of the property prior to the effective date of value that is caused by the public improvement for which the property is being acquired. My research indicates the time frames of buyers and sellers are often influenced by pending public improvement projects. Does this requirement represent a jurisdictional exception?
Response: Yes. In this case, the implementing law for what is commonly known as the Yellow Book precludes you from complying with the USPAP requirement stated in the Comment to USPAP SR 1-2(c), which requires an appraiser to develop an opinion of exposure time when an opinion of market value is developed. In contrast, the Yellow Book provides that “the appraiser shall not link an estimate of market value for federal land acquisitions to a specific estimate of market value.”
Is a “Waiver Valuation” a Jurisdictional Exception?
Question: The Federal Highway Administration (FHWA) permits a “waiver valuation.” To quote 49 CFR 24.102(c)(2), “The term waiver valuation means the valuation process used and the product produced when the agency determines that an appraisal is not required, pursuant to 24.102(c)(2) appraisal waiver.” Is this an application of the JURISDICTIONAL EXCEPTION RULE?
Response: No. There is no jurisdictional exception in the situation described. USPAP does not establish who or which assignments must comply. An agency may determine that an appraisal is not required for a specific situation, and may elect to rely on a waiver valuation.
An appraiser who is required to practice under USPAP, or chooses to do so, must still comply with USPAP. However, nothing in the definition of waiver valuation precludes the appraiser from complying with USPAP. Compliance with USPAP sometimes with a different minimum set of requirements, distinct from what might be desired by a particular intended use or user. These additional obligations may impact an appraiser’s decision whether they choose to accept the assignment.
It is important that an appraiser take the time and effort to clearly understand all the assignment elements, and make an appropriate scope of work decision that complies with the appraiser’s obligation to be able to demonstrate that the scope of work is sufficient to produce credible assignment results.
Client Requirement to Assume No Contamination Exists
Question: The Federal Highway Administration (FHWA) publishes a “Guide for Preparing an Appraisal Scope of Work.” One of the items listed is that the property being acquired should be “appraised as if free and clear of contamination,” unless otherwise specified. Is this a jurisdictional exception, extraordinary assumption, or hypothetical condition?
Response: This situation is not an application of the JURISDICTIONAL EXCEPTION RULE. Rather, if contamination is an aspect of the valuation, the situation calls for either an extraordinary assumption or a hypothetical condition. In the DEFINITIONS section, an extraordinary assumption is defined as:
an assumption, directly related to a specific assignment, which, if found to be false, could alter the appraiser’s opinions or conclusions.
A hypothetical condition is defined as: that which is contrary to what exists but is supposed for the purpose of analysis. If the contamination status of the property is uncertain and cannot be determined, an extraordinary assumption is appropriate. If the property is known to be contaminated, a hypothetical condition to the contrary would be required.
Appraisal Foundation – August Q&A
Application of Appraisal Reporting Requirements
Question: If an appraiser is bound by USPAP for a particular assignment, when must the appraiser comply with the USPAP appraisal reporting requirements?
Response: Whenever a value opinion is communicated, compliance with USPAP’s appraisal reporting requirements is required. It may seem obvious in many cases that an appraiser must abide by the appraisal reporting requirements. However, in other cases it is not as obvious, such as the following examples:
-Selecting and providing a client with comparable sales for a known property is an appraisal assignment as defined by USPAP.
-Informing a property owner that their property tax assessment is too high is an appraisal report as defined in USPAP
-Providing an opinion of market rent is an appraisal report as defined in USPAP.
-Providing an opinion of the most probable selling price for a homeowner is an appraisal report as defined in USPAP.
-Preparing, analyzing and communicating the results of an automated valuation model (AVM) for a property is an appraisal assignment.
It is important to remember that the applicability of USPAP is not affected by the amount or the lack of a fee.
Multiple Intended Uses in the Same Appraisal Report
Question: May I perform an appraisal with multiple intended uses and communicate the results in a single report with a single valuation and be in compliance with USPAP? All of the intended uses have the same type and definition of value and were performed with the same scope of work.
Response: Yes. USPAP requires the appraiser to identify the intended use of the appraisal opinions and conclusions. USPAP requires that the report states the intended use of the appraisal.
Intended use is defined as: The use or uses of an appraiser’s reported appraisal, appraisal review, or appraisal consulting assignment opinions and conclusions, as identified by the appraiser based on communication with the client at the time of the assignment. (bold added for emphasis by AF)
Therefore an assignment may have multiple intended uses with a single value opinion in the same report as long as the uses have the same definition of value and the same scope of work. An example with multiple intended uses with the same type and definition of value and same scope of work could include a market value appraisal being prepared for a possible donation and being prepared for a possible sale.
It should be noted that there are many circumstances when appraisers provide multiple value opinions in a single report with multiple intended uses (such as for market value, liquidation value and insurable value all in the same report). In this example, each intended use has a different type and definition of value, different scope of work, and likely will have differing conclusions.
The USPAP Q&A is posted each month on The Appraisal Foundation website. The ASB compiles the monthly USPAP Q&A into the USPAP Frequently Asked Questions (USPAP FAQ) for publication with each edition of USPAP. In addition to incorporating the most recent questions and responses issued by the ASB, the USPAP FAQ is reviewed and updated to ensure that it represents the most recent guidance from the ASB. The USPAP Frequently Asked Questions can be purchased (along with USPAP and USPAP Advisory Opinions) by visiting the “Foundation Store” page on The Appraisal Foundation website.
New Appraisal Products
Filed under: Appraisal Foundation, HVCC, Home Valuation Code of Conduct, News, Washington, DC
NAR recently updated it’s frequently asked questions (FAQ) document on the Home Valuation Code of Conduct (HVCC). You can get more information on HVCC at www.realtors.org/hvcc
The Appraisal Foundation recently released a new brochure Why Engage A Professional Appraiser? that is useful for anybody that might soon be engaging in a real estate transaction. The brochure includes useful information on the different types of appraisal professionals, the elements of a qualified appraiser, and the elements of a professional appraisal.
2010-2011 USPAP Adopted
The Appraisal Foundation announced changes to the 2010-2011 Uniform Standards of Professional Appraisal Practice (USPAP) at its meetings in New Orleans. The new edition will offer FAQ and advisory opinions, similar to what is in the current edition of USPAP. Revisions focus on improving the Ethics Rule, the Competency Rule and Standard 3: Appraisal Review, Development and Reporting.
The 2010-2011 USPAP is expected to be available in October of this year. ASB has issued a Summary of Actions document, which explains the changes that are being made and the rationale for those changes.
Appraisal Foundation – February Q&A
QUESTIONS REGARDING 2010-11 REVISIONS TO THE ETHICS RULE
The Appraisal Standards Board recently adopted changes to the Conduct section of the ETHICS RULE that will become effective January 1, 2010 for the 2010-11 edition of USPAP. The specific language that has been adopted, and which has initiated questions and concerns is:
If known prior to accepting an assignment, and/or if discovered at any time during the assignment, an appraiser must disclose to the client, and in the subsequent report certification: 1) any current or prospective interest in the subject property or parties involved; and 2) any services regarding the subject property performed by the appraiser within the three year period immediately preceding acceptance of the assignment, as an appraiser or in any other capacity.
Comment: Disclosing the fact that the appraiser has previously appraised the property is permitted except in the case when an appraiser has agreed with the client to keep the mere occurrence of a prior assignment confidential. If an appraiser has agreed with a client not to disclose thathe or she has appraised a property, the appraiser must decline all subsequent assignments that fall within the three year period.
The goal of maintaining public trust makes it important that the client have knowledge regarding an appraiser’s prior services associated with the subject property in advance of engaging that appraiser. The ASB has compiled the following list of questions and answers:
Question 1: I heard about the changes to the Conduct section of the ETHICS RULE and I am concerned. Is it true that I will not be able to reappraise a property for three years after a prior appraisal?
Response 1: No. The revised ETHICS RULE that goes into effect on January 1, 2010, will require appraisers to disclose any services regarding the subject property provided as an appraiser or in any other capacity during the three years prior to the new assignment. It does not include any prohibition against reappraising a property.
Question 2: I occasionally receive requests to appraise a property that I have appraised in the past. With the changes to the ETHICS RULE, I will be required to disclose any assignments that I performed within the three years prior to the date of acceptance of the assignment. Is such a disclosure not a violation of an appraiser’s responsibility under the Confidentiality section of the ETHICS RULE?
Response 2: Generally, no. The Confidentiality section of the ETHICS RULE prohibits, with some exceptions, the disclosure of “confidential information or assignment results prepared for a client.” The mere fact that an appraiser appraised a property is not confidential information as defined in USPAP. However, the appraiser must be careful not to disclose confidential information from a previous assignment in the new assignment.
Question 3: I am concerned that when I tell a prospective client that I have previously provided a service related to a property, it will lead to questions that I cannot answer without violating the Confidentiality section of the ETHICS RULE. I am sure the new client will want to know when I appraised it, and what my value conclusion had been. How can I address these questions and comply with USPAP?
Response 3: It is likely that many potential clients will ask such questions. However, without authorization from the original client, the appraiser cannot disclose the results of the previous appraisal or any other confidential information. One way to address this problem would be to explain that as an appraiser, you are subject to confidentiality requirements and cannot disclose that information. You could go on to explain that the confidentiality requirements are in place to protect clients, including the one who is engaging you for the new assignment.
Those parties who regularly order appraisals will become accustomed to the new disclosure requirements, and will likely stop asking after a relatively short time.Question 4: Some of my best clients require me to keep all information regarding any assignments that I perform for them confidential. The Comment states in part, “If an appraiser has agreed with a client not to disclose that he or she has appraised a property, the appraiser must decline all subsequent assignments that fall within the three year period.” Will this prevent me from appraising a property for a different client during that three year period?
Response 4: Perhaps, but USPAP does not require that the disclosure provide any specific details. For example, the disclosure, both prior to accepting the assignment and in the report’s certification, could include a statement similar to one of the following:
I have provided a previous service regarding the subject property within the three years prior to this assignment; or I have previously appraised this property in the three years prior to this assignment.
If an appraiser cannot make such a statement without violating an agreement with a previous client, then the appraiser must not accept the new assignment. Appraisers should review their client agreements to specifically determine what information they have agreed to keep confidential.
Question 5: Most of my assignments are completed using common residential appraisal report forms. I am concerned that my clients will not allow changes to the certification on the report forms. The Conduct section of the ETHICS RULE requires that I disclose prior services regarding the subject property in the certification. Does this mean that I will not be allowed to appraise a property for these clients if I had performed a service regarding that property in the previous three years?
Response 5: USPAP compliance is the appraiser’s responsibility and adding this information to the certification will be a requirement beginning January 1, 2010. While deletion or modification of client-imposed certifications are generally not allowed, most clients will likely allow additional certifications that do not constitute material alterations to the appraisal report. It is not uncommon for appraisers to add supplemental certifications and this may be necessary in some cases until commonly-used appraisal forms are revised to reflect the changes to USPAP.
Question 6: The Conduct section of the ETHICS RULE requires that I disclose prior services regarding the subject property provided within the three years prior to acceptance of an assignment. I am appraising a residential property on which I acted as the general contractor when it was built four years ago. Since this service was more than three years ago, am I correct in not disclosing that to a new client?
Response 6: USPAP establishes a minimum standard of three years, and that is what you are required to disclose. However, the overriding goal of USPAP is to promote and maintain public trust in appraisal practice. Therefore, when an appraiser believes that having provided a previous service that occurred prior to the three years may be relevant to the client, it would be important that the appraiser disclose the information.
Question 7: If the firm that employs me as an appraiser has provided leasing or property management services in the past three years for the subject property, must this be disclosed?
Response 7: Not necessarily. The ETHICS RULE requires disclosure of services “provided by the appraiser.” However, if an appraiser believes that the provision of a service by the appraiser’s firm or other related entity may be relevant, he or she should disclose that information to a potential client.
Question 8: If I will be conducting an auction of the subject property after the appraisal, does this have to be disclosed?
Response 8: Yes. This is an example of a “current or prospective interest in the subject property.” USPAP currently requires that such an interest be disclosed in the certification, but not necessarily prior to accepting the assignment. Under the 2010 requirements, the appraiser must also disclose this prior to acceptance of an assignment or upon discovery during the assignment.
Question 9: May the disclosure that must be made at the time of acceptance be oral? May it be made in an email to the client?
Response 9: USPAP does not specify how the disclosure upon acceptance or discovery must be made. It may be appropriate in some cases to provide an initial oral disclosure. If the client decides to proceed, it may be appropriate that the appraiser’s disclosure be restated in writing. One way to accomplish this is by including it in a letter of engagement. In other cases an email would be appropriate.
The Record Keeping section of the ETHICS RULE requires that the appraiser’s workfile include “all data, information, and documentation necessary to…show compliance with this Rule…” So, the disclosure prior to acceptance or upon discovery must be documented in the appraiser’s workfile.
For more information, visit www.appraisalfoundation.org.
Appraisal Foundation seeks Comments on White Paper
The Appraisal Foundation is looking to write a White Paper on appraisal regulatory reform, and they are seeking your comments. Possible topics for the white paper include:
- Implement National Licensing or Registration Requirements for Appraisal Management Companies.
- Require Greater Due Diligence from federal financial institutions.
- Improve enforcement among the states.
For more information on the Foundation’s White Paper, please click the link below:
To comment on this White Paper, you can email the Foundation at:
whitepaper@appraisalfoundation.org
USPAP Q&A – January 2009
The USPAP Q&A is posted each month on The Appraisal Foundation website. Now, on to the questions…
Communicating Confidential Information to a Sworn Peace Officer
Question: I was contacted by a sworn peace officer who simply requested the workfile of an assignment I had previously completed. The officer made this request without a subpoena or any form of court order. If the workfile contains confidential information, does USPAP allow me to comply with the officer’s request?
Response: The answer to the question depends on whether or not the officer’s request qualifies as “due process of law.” The Confidentiality section of the ETHICS RULE states, in part:
An appraiser must not disclose confidential information or assignment results prepared for a client to anyone other than the client and persons specifically authorized by the client; state enforcement agencies and such third parties as may be authorized by due process of law…
It is likely that this determination would need to be made by a court or other legal body, since USPAP does not define what “due process of law” constitutes. You may want to seek legal advice to determine an appropriate response. It is also important to note that if the officer made the request on behalf of a state enforcement agency, the portion of the Confidentiality section of the ETHICS RULE quoted above allows the appraiser to communicate confidential information.
Signature on Letter of Transmittal
Question: Does USPAP require an appraiser to sign the letter of transmittal?
Response: No. USPAP does not require that any report include a letter of transmittal. However, USPAP does require that an appraiser who signs a letter of transmittal must also sign the certification required in Standards Rules 2-3, 3-3, 5-3, 6-9, 8-3, and 10-3.
For example, the Comment to Standards Rule 2-3 states, in part: A signed certification is an integral part of the appraisal report. An appraiser who signs any part of the appraisal report, including a letter of transmittal, must also sign this certification. (Bold added for emphasis)
Citation of Effective Date
Question: I’ve been engaged for a real property appraisal review assignment and have a question about the appraisal report under review. Does USPAP require the date of value to be cited each time the opinion of value is stated in the appraisal report?
Response: No. USPAP does not require the appraiser to state the effective date of the appraisal with each statement of the value opinion. In a real property appraisal report, the requirements that apply to reporting the effective date can be found in Standards Rules 2-2(a)(vi) for a Self-Contained Appraisal Report, 2-2(b)(vi) for a Summary Appraisal Report, and 2-2(c)(vi) for a Restricted Use Appraisal Report. Each of these appraisal reporting options simply requires the appraisal report to “state the effective date of the appraisal and the date of the report.”
However, you should take care to assure that intended users are not misled, such as by stating the effective date of value in a manner which does not clearly establish the context for the value opinion. In most instances, reporting the value opinion with the effective date of the appraisal, especially when the effective date is significantly different (retrospective or prospective) from the date of the report, assists intended users to clearly understand the context for the value opinion.
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The ASB compiles the monthly USPAP Q&A into the USPAP Frequently Asked Questions (USPAP FAQ) for publication with each edition of USPAP. In addition to incorporating the most recent questions and responses issued by the ASB, the USPAP FAQ is reviewed and updated to ensure that it represents the most recent guidance from the ASB. The USPAP Frequently Asked Questions can be purchased (along with USPAP and USPAP Advisory Opinions) by visiting the Foundation Store on The Appraisal Foundation website.
For further information regarding USPAP Q&A, please contact:
John S. Brenan, Director of Research and Technical Issues
The Appraisal Foundation
1155 15th Street, NW, Suite 1111
Washington, DC 20005
(202) 624-3044
(202) 347-7727 fax
john@appraisalfoundation.org
Appraisal Foundation to Review Graduate Degree Programs
The Appraisal Foundation is establishing a program to review Graduate Real Estate Degree Programs. This is primarily for the purpose of allowing these Universities to offer their Graduate students appraisal credentials.
According to the Appraisal Foundation’s Press Release:
This program will benefit both state appraiser regulatory agencies in their review of an applicant’s qualifications, as well graduate degree applicants looking to obtain a real property appraiser credential. According to Gary Taylor, 2009 Chair of the AQB, “The AQB believes that this new program will assist those individuals who have made the substantial investment required to earn a graduate degree in real estate. It will not only assist these individuals that choose to pursue a real property appraiser credential, but it will also facilitate bringing some of the best and brightest into the profession.”
Colleges and Universities that wish to apply for this program should visit the Foundation’s web site at http://www.appraisalfoundation.org/ for a copy of the application.
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