Feb. 1, 2023 (Staff Writer) — The Appraiser Qualifications Board this week released a First Exposure Draft of proposed changes to the Real Property Appraiser Qualification Criteria. If adopted, these proposed changes would make fair housing education courses a required component of an appraiser’s qualifying and continuing education. This change can put further strain on an already strapped appraisal process.
“Appraisal bias is a threat to the public’s trust in the appraisal profession,” said Appraiser Qualifications Board Chair Brad Swinney. “As the independent body charged with maintaining the minimum qualification criteria for real property appraisers in the United States, it is critical that we make certain meaningful criteria are in place to ensure appraisers have the proper training to protect the public trust. Adding fair housing as a requirement for all appraisers at the beginning and throughout their career is an important step in rooting out bias and discrimination in the profession.”
The First Exposure Draft is now available for public comment through March 13, 2023. The Appraiser Qualifications Board carefully reviews all public comments, and this input will inform their next steps. The public can join a webinar covering the proposed changes on March 1, 2023 by signing up here.
Click here to read the First Exposure Draft. Click here to leave a public comment by March 13, 2023.
Background: The Appraisal Foundation is the nation’s foremost authority on the valuation profession. The organization sets the congressionally-authorized standards and qualifications for real estate appraisers and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. This work advances the profession by ensuring appraisals are independent, consistent, and objective. More information on The Appraisal Foundation is available at www.appraisalfoundation.org.
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