TAF Conflates Real Estate Appraisers with Appraisers
Why do I take the time to mention “real estate appraisers” and “real estate appraisals?” instead of just “appraisers” and “appraisals”? Personal property appraisers and business appraisers aren’t required by any state to follow USPAP, don’t pay anything for licensing and certification fees to any state, and are not subject matter experts on anything to do with real estate at all, ever. But… the Appraisal Standards Board and Appraiser Qualifications Board are chock a block full of non-real estate appraisers. Didn’t TAF/ASC arise from problems in the real estate profession? Was it ever the intent of the original remit for ASC/TAF to include non-real estate appraisal? Remember, personal property appraisers and business appraisers are non-licensed &/or non-certified.
As the only one of these professions mandated to have licensing and certification, TAF, ASC & USPAP should be governed for and by a core of real estate subject matter experts. Period.
Yes, there are standards in USPAP addressing personal property (“PP”) and business valuation (“BV”), but there are numerous trade organizations devoted to these professions. PP and BV appraisers deserve to have the sections of USPAP pertaining to their profession gifted to them with all the good wishes of TAF. Those Standards once handed off, will de-clutter the core mission of TAF: real estate solutions, real estate professionals, real estate standards, real estate appraisal requirements.
Think of how much more money there will be for the core mission of TAF (this not-for-profit is led by someone who sent this bat-shit crazy letter, once the need to cater to two unrelated professions is removed. That $40 per real estate appraiser suddenly goes to real estate appraisers.
Meanwhile, not only do personal property (“PP”) and business valuation (“BV”) professionals seat themselves as part of the Appraisal Standards Board and Appraiser Qualifications Board, each of them has a separate (funded) panel. So, personal property (“PP”) and business valuation (“BV”) are each represented twice.
No wonder there is such a muddle here. We have non-lawyers of all valuation professions pretending to be lawyers and writing standards that can and will land appraisers in hot and deep water. We have non-real estate professionals having a hand in writing standards and qualifications for real estate appraisers; there are no qualifications, or state licensing required for either of these two professions. Non-real estate appraisers are over-represented and frankly have been getting a free ride on the backs of real estate appraisers for decades now. Decades. Meanwhile, real estate appraisers are getting hammered on all sides while the PP and BV appraisers can just opt out of any responsibility for their own input into the standards that they helped write.
- FNMA Continued Effort to Get Rid of Appraisers - September 29, 2023
- Beware of Bifurcated Appraisals - August 4, 2023
- And Why Is the Second Appraisal Always the “Correct Value?” - June 9, 2023