AQB Changing Course on Appraiser Qualifications?
Is AQB Potentially Changing Course on Appraiser Qualifications?
Appraisers & others,
The Appraisal Qualifications Board (AQB) is one of the voluntary Boards under The Appraisal Foundation. Their role is to analyze, debate, review, and decide the minimum qualifications necessary for a person to become an appraiser.
While all who currently or in the past have served on this Board, are individually good and experienced people, collectively by Board action they have nearly caused residential appraising to grind to a halt due to their highly restrictive policy decisions. Yes, this a strong statement, and ‘halting’ won’t happen until the majority of current residential appraisers retire or leave not long from now – some say within a decade. But current policy enforced nationally has already begun to affect “us” due to few entering the profession.
This Board is mostly comprised of Certified General appraisers; few Certified Residential appraisers have ever served on it. Thus, their viewpoint and decisions have been skewed to high level educational requirements before one is allowed, by themselves without direct supervision, to carry a tape or laser measure, clipboard or tablet, and write residential appraisal reports for mortgage lending purposes.
From my perspective, it appears to me that the AQB decided years ago to mandate US residential appraisers must be equal to appraisers in distant countries (such as Australia, New Zealand, and Europe) where the lending business model, esteem for the profession and educational requirements are far different than what exists in the US.
However, it appears the AQB has finally realized the pendulum has possibly swung too far to one side, and are now asking for your input to see what should or could be changed. I commend them for this.
The four page PDF ‘white paper’ below is a concept document issued on July 9, 2015, with a request people review it and respond in writing with comments and suggestions, ideally no later than Sept. 30 so that Board members have your input prior to a mid-October Board meeting.
I would especially encourage RESIDENTIAL appraisers review this document and respond with your comments. It’s time for the AQB to actually see how their policy decisions have affected our residential appraising work and livelihood, both currently, and far into the future unless more sensible experience requirements are put into place.