Appraisal Articles 2018 Free Appraisal Articles for Appraisers and the Public
I just took a brief look at the new 112-page CoreLogic Valuation Solutions Residential Appraisal Standards online document that was recently sent to me via email. I don’t complete work for CoreLogic or for any of their affiliates but I guess they think that I am in need of a copy of their standards. I read the document and I was surprised by it. It appears that CoreLogic thinks that they are now the new de facto appraiser regulator. Oh no, I was told, the new standards are just to be followed by appraisers who complete work for CoreLogic. I’m asking myself, “so if it’s just for CoreLogic appraisers why is this document being distributed online to me and to other appraisers?
As discussed in a recent article published by McKissock Learning on their blog, see the link below, the Appraisal Qualifications Board (AQB) of the Appraisal Foundation will adopted changes to the Real Property Appraiser Qualifications Criteria following its fourth exposure draft that will become effective on May 1, 2018. The changes effectively begin, in my opinion, a breakdown of the entry barrier erected by appraisers, that restricted entry into the appraisal industry. As noted in the McKissock article, the following are some of the changes that are being adopted together with those noted in the following table:
Today for the first time in 40 years as an appraiser I had a potential client tell me they were going with a competitive appraiser because they had “national appraisal standards” and that I apparently do not. As all appraisers are aware in 2008 the Appraisal Qualifications Board (AQB) launched National Uniform Licensing and Certification Examinations. The exams have ended up being somewhat uniform across all state lines and the exams have basically launched a national effort to establish uniform appraisal standards via testing. Together with the Uniform Standards of Professional Appraisal Practice (USPAP) which were also developed as a way to establish national standards and most states have adopted them as the basis for their licensing regulations. I have read that even a couple of countries have adopted USPAP as their appraisal standards.