"The institutional and governmental users of appraisal services are requiring more often that real estate appraisals be made only by accredited appraisers. This brings more questions by appraisers, or those wishing to become appraisers, as to how they can become accredited."--First page.Robert J. Bevins (Extension Economist)New 8/88/5

Bevins, Robert J.

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-• II II II II II II II II II U:, Jl!:!l, 11;-. r.t ~ !lll'll~ ~ ~ []j. ~ r.;;i~ ~ □, .....  ~ I ·i ~~ ""'; :::,u■=_ ~ □ =an:. -'L: 11 ii~' \i:&2'.. gj~ □ ~ ~ ii.: '.ft' ~. i;;""i I a .. __ ~1~ rii, 111"""=1 =· I • =1 ffl . DI'~- ""J ,.! ~=• ■ I 1 :J· ~ C'! .... = ... .1"- ... ~ i;-. • ~~ It. ~ ::, -:,7 "I'-;' ~ r.;~r. ~ J!,11 ~·, I •: !";"' f'la• ~r '"ll-t ·='• ..... rn (t!,a1lti ~11 ,;r1_ a,. i;l' .-r: iT"l -,'..:' LJ•. :"rrr-1 _. ':1 ■ • II II II II II II II ll II II II II Becoming accredited as a real estate appraiser Robert J. Bevins, Extension Economist The institutional and governmental users of appraisal services are requiring more often that real estate appraisals be made only by accredited apprais-ers. This brings more questions by appraisers, or those wishing to become appraisers, as to how they can become accredited. There is no Missouri or federal government group that certifies the skill of Missouri real estate apprais-ers. That may partially change. There are moves to require some sort of national standards for appraisers and appraisal practice. There are states that license and/ or certify real estate appraisers, but Missouri is not one of them. In Missouri you can be a practicing appraiser if you call yourself an appraiser and can get clients to employ your services. But there are accredited real estate appraisers who have been awarded an accreditation or designa-tion by non-governmental appraisal groups, socie-ties, or associations. Accreditation criteria The designations or accreditations are awarded on varying criteria. Some designations demand mini-mal training, testing, and experience; others demand extensive training, testing, and experience. So not all designations or accreditations signify real competence. Some show little more than that the holder had the money to buy the designation. Caveat emptor (let the buyer beware) is the rule when select-ing an appraiser. It is uncertain how many appraisal organizations there are. Which are "for real" and which are close to being "diploma sellers" is not easy for the novice or others to judge. It would not be appropriate here - nor does your writer have the knowledge - to list which organiza-G407 tions offering accreditations are "for real" and which are not. What seems more appropriate is to list the eight major appraisal organizations which make up the Appraisal Foundation. American Institute of Real Estate Appraisers 430 N. Michigan Avenue, 9th Floor Chicago, IL 60611 312/329-8559 American Society of Appraisers 535 Herndon Parkway Herndon, VA 22070 703/478-2228 American Society of Farm Managers and Rural Appraisers 950 S. Cherry Street, Suite 106 Denver, CO 80222 303/758-3513 International Association of Assessing Officers 1313 E. 60th Street Chicago, II 60637 312/947-2069 International Right of Way Association 9920 LaCienega Blvd., Suite 515 Inglewood, CA 90301 213/649-5323 National Association of Independent Fee Appraisers 7501 Murdoch Street St. Louis, MO 63119 314/781-6688 National Society of Real Estate Appraisers 1265 E. 105th Street Cleveland, OH 44108 216/795-3445 : . : : . . . II II II II Archiv version - check for updat sSociety of Real Estate Appraisers 225 N. Michigan Avenue, Suite 724 Chicago, IL 606017601 312/819-2400 Each of these organizations offers various sorts of accreditation on various terms. A letter or telephone call to these should elicit details of the options each organization offers. All of these organizations will require their members to adhere to a code of ethics. Generally these codes require that: • Full disclosure must be made of any conflicts of interest on the part of the appraiser; • The appraiser cannot take on an assignment for which the appraiser does not have or cannot acquire the necessary competence; • The appraiser will refuse direction as to what his valuation should be; • The appraiser's fee will not be contingent in any way upon the value estimated. Failure to belong to an appraisal organization or have appraisal accreditation or designation does not certify incompetence, however. There are competent appraisers who belong to none of the eight organiza-tions within the Appraisal Foundation, or to any appraisal organization. But real estate appraisal is becoming more profes-sional. More formal training and continuing profes-sional education are becoming the norm. And more and more appraisers want professional designation by an appropriate appraisal organization. It is our hope that this guide offers at least a beginning set of information for those who wish to explore becoming accredited real estate appraisers. And lastly, we hope the list of organizations and addresses will provide those who need real estate appraisal a source of places to begin their search for the appropriate appraiser. Note: Farm Real Estate Appraising, Agricultural Guide 405, University of Missouri, may also be of interest. University of Missouri f\_)} University ~Extension UNIVERSITY OF MISSOURI LINCOLN UNIVERSITY 1839-1989 ■ Issued in furtherance of Cooperative Extension Work Acts of May 8 and June 30, 1914 in cooperation with the United States Department of Agriculture. Gail L. Imig, Director, Cooperative Extension Service, University of Missouri and Lincoln University, Columbia, Missouri 65211. ■ An equal opportunity institution. G407 New 8/88/SM 

Becoming accredited as a real estate appraiser

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Becoming accredited as a real estate appraiser

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