Appraisers Qualification Board Update
Effective January 1, 2018 ISA will be updating its membership education and experience requirements. These changes are necessitated by the increasing demand for expertise and qualifications within the profession and the expanding standards now required in preparing and developing qualified appraisal reports.
To better understand how the updated criteria will impact ISA membership requirements, please review the designations levels below.
ISA AM and ISA CAPP
If you currently have ISA’s Accredited Member (AM) or Certified Appraiser of Personal Property (CAPP) designation, you are already in compliance with the 2018 AQB requirements. You will also be considered a “qualified appraiser” under the AQB criteria. You will need to continue taking the 7HR USPAP update every two years, as well as documenting your continuing education hours during requalification.
If you currently have ISA’s Member designation or earn the ISA Member designation before January 1, 2018 you will need to continue taking the 7HR USPAP update every two years, as well as documenting your continuing education hours during requalification. You are encouraged to continue along ISA’s education pathway to achieve your Accredited Member (AM) designation in order to be fully compliant with the 2018 criteria. If you do not advance to the AM level, you will still be required to complete ISA’s Requalification requirements every five years. At the ISA Member level, you are not considered an AQB Qualified Appraiser under the AQB Personal Property Appraiser Qualification Criteria until you fulfill the requirements for the ISA Accredited Member (AM) designation.
If you earn your ISA Member designation after January 1, 2018, you will now be required to abide by the updated ISA and AQB criteria. In addition to meeting current ISA Member designation existing requirements, the following new requirements will be in effect:
- From the time you earn your ISA Member designation (post January 1, 2018) you will then have three years to advance to the ISA Accredited Member (AM) level. If you have not earned your AM designation after three years, you will revert back to the Candidate level of membership.
- In order to advance to the Accredited Member (AM) level from the ISA Member designation (post January 1, 2018), ISA Member designees will now be required to show evidence of past completion of at least 30 semester hours from an accredited college, junior college, community college, or university.
- This requirement does not have to be new college credit or college credit earned after becoming an ISA Member, degrees and college credit from accredited institutions earned in the past can be applied for this requirement
- For those with an ISA Member designation earned prior to January 1, 2018, should you decide to become an ISA AM after January 1, 2018 the college requirement (#2 above) will apply
ISA’s education and experience criteria have been developed to encompass and include all of the AQB requirements. The new criteria will make your ISA designations more credible and trustworthy to potential clients and users of appraisals and allow ISA to continue as the thought leader within the personal property appraising profession.
To read the full AQB Personal Property Appraiser Qualification Criteria, please visit the Standards & Qualifications page on The Appraisal Foundation website and click here to review the ISA membership requirements page.