AQB Real Property Appraiser Qualification Criteria
The Appraisal Foundation a not-for-profit organization dedicated to the advancement of professional valuation, was established by the appraisal profession in the United States in 1987.
The ASC is authorized by Title XI to make grants in such amounts as it deems appropriate to the Appraisal Foundation, to help defray those costs of the Foundation relating to the activities of its Appraisal Standards and Appraiser Qualifications Boards.
- Appraiser Qualifications Board (AQB):
The AQB establishes the qualification criteria for state licensing, certification and re-certification of real property appraisers. Title XI mandates that all state certified appraisers must meet the minimum education, experience and examination requirements promulgated by the AQB. In addition, examinations used by States for the certification of appraisers must be reviewed and approved by the AQB.
- Appraisal Standards Board (ASB):
The ASB establishes minimum education and experience requirements for appraisers. The ASB issues the USPAP, industry standards for conducting real estate appraisals. The Appraisal Foundation is funded by a grant from the ASC, revenue from the sale of the USPAP, and fees from USPAP courses and other activities.
See the Appraisal Foundation website (https://www.appraisalfoundation.org) for information on the following:
• how to obtain a copy of the USPAP, as well as questions and answers related to the USPAP;
• appraiser qualification criteria;
• State regulatory updates (periodic electronic publications for State regulators); and
• descriptions of current Foundation initiatives.
To view and/or comment on current and past AQB and ASB exposure drafts please go to: http://www.appraisalfoundation.org/imis/TAF/Standards/Exposure_Drafts/TAF/Exposure_Drafts.aspx?hkey=5b393d7e-4ed0-4c45-bf13-21ed4e2d14c5