Stricter standards for personal property appraisers could be years away

Expanded hours and criteria

The Appraiser Qualifications Board, sponsored by The Appraisal Foundation, continues to modify proposed changes to its “Personal Property Appraiser Qualification Criteria.”

It could take about four more years for the Board to adopt new criteria, according to a Feb. 2 letter from Rick Baumgardner, chairman of the Board, who updated the National Auctioneers Association on the group’s plans.

In a story from the November issue of Auctioneer, it was reported that new “Personal Property Appraiser Minimum Qualification Criteria” was set to take effect Jan. 1, 2012. This was according to a March 9, 2010, document from the Qualifications Board.

Now, it seems perceived urgency to obtain a qualified appraiser designation before 2012 has subsided. Implementation of the changes “will likely not be in 2012, but rather sometime around 2013 or 2014, to provide organizations that are required or choose to adopt the Criteria plenty of time to make any needed adjustments,” Baumgardner says in the letter.

In addition, the letter states “Personal Property Appraiser Qualification Criteria” is now voluntary for personal property appraisers unless they have personal property membership designations from sponsors of The Appraisal Foundation. The NAA is a member of The Appraisal Foundation’s Advisory Council and is considering becoming a sponsoring organization, says Michael Avery, Director of Education for the NAA.

The Appraisal Qualifications Board establishes minimum education and experience requirements for appraisers. The group published proposed changes to its “Personal Property Appraiser Qualification Criteria” in an “exposure draft” available on The Appraisal Foundation’s website at https://appraisalfoundation.sharefile.com/d/s5d5d9a9af3f4793a. The Board issued the draft Oct. 26.

The NAA’s Education Institute has a Graduate Personal Property Appraiser Committee that plans to continue to observe the changes to the “Personal Property Appraiser Qualification Criteria” from public comment phase through adoption, Avery says. The NAA is considering changes to its GPPA curriculum in order to stay in compliance with the qualification criteria, once approved.

Avery says the GPPA committee will continue to provide NAA members with updates on the qualifications criteria as it receives further information from the Appraiser Qualifications Board.

Also in the Feb. 2 letter, Baumgardner explains the proposed changes now do not mandate that experience obtained after Jan. 1, 2012, comply with Uniform Standards of Professional Appraisal Practice (USPAP).

Further, the letter clarifies the November story, which reports personal property appraisers would have to provide proof of 1,700 hours of personal property appraisal experience in area(s) of specialization. The Board is proposing the criteria require personal property appraisers to have 700 hours of experience in area(s) of specialization.

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2 Comments

Filed under Auction Industry, Auctioneer magazine, Education

2 responses to “Stricter standards for personal property appraisers could be years away

  1. 700 hours of appraisal experience measured how? What are we supposed to do? Track hours spent and miles driven? This is insane. But then again, it’s government.

  2. This is a private effort and has no basis in law. Requirements for personal property appraisers are already set by the IRS. Appraisers who follow the standards established by the Uniform Standards of Professional Appraisal Practice (USPAP) have no need to jump through hoops to satisfy another layer of “regulation”.

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