The Appraiser Qualification Board (AQB) now allows applicants to gain 100% of experience credit by completing appraisal assignments that do not have a traditional client. Effective January 1, 2022, this change means a trainee can complete an appraisal for the intended use of gaining experience credit. For example, an aspiring appraiser could complete appraisals on their home, a family member’s home, or a neighbor’s home solely for the purpose of gaining experience credit. Prior to the change, applicants had a 50% limitation on experience without a traditional client, such as a lender or appraisal management company.
An applicant may also opt to complete a Uniform Standards of Professional Appraisal Practice (USPAP) standard 3 review of a report that has already been completed, so long as the review demonstrates proficiency with USPAP standards 1 and 2. Trainees are still required to perform appraisal work under the active, personal, and diligent direction of a supervisory appraiser.
To receive experience credit, appraisal reports must:
- Comply with USPAP
- Be performed when the applicant had legal authority (i.e., have a valid and current trainee credential)
- Be verifiable (i.e., submitted upon request for experience audit), and
- Comply with the AQB experience criteria.
Please contact us if you have any questions on this type of qualifying experience.