• Karin Costa

Personal Property Appraiser Qualification Criteria

Membership in a professional personal property appraisers organizations is not as simple as paying a fee or taking a week-long class.

There is a stringent admissions process requiring proof of market experience, a professional resume and character references.

Once accepted by the Organization, the applicant is trained, tested and must pass both a 120 hour core class in appraisal methodology and the 15 hour Uniform Standards of Professional Appraisal Practice (USPAP) (which licensed real estate appraisers also comply with). Successful applicants must adhere to a Code of Ethics and comply with Internal Revenue Service (IRS) and Appraiser Qualifications Board (AQB) guidelines.

Furthermore, qualified appraisers must complete continuing education set by The Appraisal Foundation and take the USPAP Update course every two years, since The Appraisal Foundation introduces appraisal standards every two years (current year standards are 2016-2017).

The Circle of Trust, which is a joint effort by the three major personal property appraisal organizations (ISA, ASA and AAA) is an initiative to inform the public about meaningful qualification standards for personal property appraisers. You can read The Appraisal Foundation's appraiser qualification criteria which will take effect in January, 2018 here.

#AppraiserQualifications #Credentials #AppraiserEducation

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