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The Appraisal Foundation
The Appraisal Foundation is dedicated to the advancement of professional valuation. Established in 1987 and governed by a Board of Trustees, The Appraisal Foundation provides financial support, appoints members, and oversees the activities of the Appraisal Practices Board (APB), Appraisal Standards Board (ASB) and Appraiser Qualifications Board (AQB).
The Appraisal Subcommittee (ASC) is responsible for the monitoring of The Appraisal Foundation, ASB and AQB.
Board of Trustees (BOT)
The BOT is responsible for providing financial support for the AQB, APB and ASB. Also, the Board appoints members and oversees activities of the Foundation Boards and Advisory Councils. Interested individuals do not need to real estate appraisers.
Appraisal Practices Board (APB)
The APB is responsible for identifying and issuing opinions on valuation methods and techniques. Using panels such as the Subject Matter Experts (SMEs), the APB will research and detail all pertinent sources of information on a current topic. In addition, the APB may adopt guidance which addresses the topic in question. The Appraisal Practices Board is composed of five to seven members who may serve up to eight years on the Board. Leading valuation professionals combine to offer judgments represented by the APB.
Appraiser Standards Board (ASB)
The ASB is responsible for developing and amending the Uniform Standards of Professional Appraisal Practice (USPAP). First developed in the 1980's, USPAP provides a minimum set of quality control standards for real estate appraisers. To learn more about the Uniform Standards of Professional Appraisal Practice, please visit our USPAP page. The ASB is composed of six appraisers who are appointed for three terms.
Appraiser Qualifications Board (AQB)
The Appraiser Qualifications Board (AQB) is responsible for establishing minimum education, experience and examination requirements for state certified real estate appraisers. The AQB is an independent board of The Appraisal Foundation. Under the provisions of Title XI of Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA), the AQB is composed of at least five practicing appraisers.
www.appraisalfoundation.org
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