Washington Report

Advocacy Updates from Washington D.C.

Proposed Changes to Appraiser Qualifications

On Nov. 1, 2017, the Appraisal Qualifications Board (AQB) released the Fourth Exposure Draft of Proposed Changes to the Real Property Appraiser Qualifications. The Exposure Draft proposes three major changes related to education and experience. Specifically:

  • Revise the college-level education requirements for Licensed Residential and Certified Residential
    • No longer require a Bachelor's degree for Licensed Residential
    • Certified Residential requires one of the following
      • Bachelor's Degree in ANY field
      • Associate's Degree in Business Administration, Accounting, Finance, Economics, or Real Estate
      • Completion of 30 hours of (1) relevant coursework, or (2) College Level Examination Program (CLEP) exams (3) or some mix of both
  • Create an alternative to Bachelor's Degree requirement for Licensed Residential to become Certified Residential
    • Must have 5 years experience
    • No disciplinary action within the past 5 years
    • Completion of specific additional education
  • Reduce Experience Hours
    • Licensed Residential: 1000 hours in 6 months
    • Certified Residential: 1500 hours in 12 months
    • Certified General: 3000 in 18 months

The AQB has decided to remove consideration of Practical Applications of Real Estate Appraisal modules from this Exposure Draft. The AQB feels development of those modules deserves more research and time and will address it in the near future.

Comments are due January 12, 2018.

AQB Fourth Exposure Draft