AQB guides states on implementation of new Qualification Criteria

The Appraiser Qualifications Board (AQB) adopted new Real Property Appraiser Qualification Criteria on February 20, due to take effect in 2008. There have been questions from the states, the AQB said recently, about how to implement the changes.  In an AQB Guide Note, the AQB gave the states two acceptable scenarios and one which would not be acceptable.

A “Firm Date Scenario” was authorized whereby any credential issued by a state appraiser regulatory body on or after January 1, 2008, must be in compliance with all components of the new AQB Real Property Appraiser Qualification Criteria, the AQB said.  Under this scenario, it would not matter when an applicant completed his or her education, examination and experience; if the credential is issued after January 1, 2008, the applicant must meet the requirements for all components of the new Criteria, the Guide Note said.

A “Segmented Scenario” was also authorized, whereby the requirements are broken down into three segments (or components): Education, Experience, and Examination.  An applicant would have to meet the Criteria in effect at the time he or she completes a particular component or segment, the AQB said.  Any component completed prior to January 1, 2008, would satisfy the current Criteria, while any component not completed by January 1, 2008, would have to conform to the new Criteria.

By way of example, if an applicant for a Certified General credential completes all of the currently required 180 hours of qualifying education and passes the state’s Certified General examination in 2007, but does not possess the required 30 months and 3,000 hours of experience required under the new Criteria to be in force starting in 2008, since the applicant completed the education and examination components prior to January 1, 2008, he or she would be deemed to have satisfied those components.

The AQB said it was not acceptable for a state to begin the process of implementing the new Criteria until January 1, 2008. This would result in some period of time after January 1, 2008, where applicants would not be AQB compliant because the jurisdiction would not have the appropriate statutory or regulatory requirements in place, the Guide Note said.

The Guide Note is viewable at the Appraisal Foundation website, by clicking here.