Aug 25, 2016 - 06:10 AM
The quantitative experience requirements must be satisfied by time spent on the appraisal process. The appraisal process consists of: analyzing factors that affect value; defining the problem; gathering and analyzing data; applying the appropriate analysis and methodology; and arriving at an opinion and correctly reporting the opinion in compliance with USPAP.
An hour of experience is defined as verifiable time spent in performing tasks in accordance with acceptable appraisal practice. Acceptable real property appraisal practice for experience credit includes appraisal, appraisal review, appraisal consulting, and mass appraisal. All experience must be obtained after January 30, 1989, and must be USPAP-compliant. An applicant’s experience must be in appraisal work conforming to Standards 1, 2, 3, 4, 5, and/or 6, where the appraiser demonstrates proficiency in appraisal principles, methodology, procedures (development), and reporting conclusions.
Documentation in the form of reports, certifications, or file memoranda, or, if such reports and memoranda are unavailable for good cause, other evidence at the credentialing authority’s discretion that the work is compliant with USPAP must be provided as part of the state experience verification process to support the experience claimed.
The verification for experience credit claimed by an applicant shall be on forms prescribed by the state certification/licensing agency, whiich shall include:
1. Type of property; 2. Date of report; 3. Address of appraised property; 4. Description of work performed by the trainee/applicant and scope of the review and supervision of the supervising appraiser; 5. Number of actual work hours by the trainee/applicant on the assignment; and 6. The signature and state certification number of the supervising appraiser if applicable. Separate appraisal logs shall be maintained for each supervising appraiser if applicable.