Appraisers Qualification Board Update
Tuesday, August 15, 2017 in News
Based on updated criteria established by the Appraisal Foundation's Appraisals Qualification Board (AQB) and to ensure that ISA remains the leader in personal property education, ISA will be updating its membership education and experience requirements effective January 1, 2018.
These new requirements were created in response to increased demand and standards for professional appraisers. With these updates, potential clients will be certain that the ISA-certified appraiser they're working with is credible, trustworthy and up-to-date on all appraising standards.
Read on for more details on how the updated criteria will affect the requirements for different levels of ISA membership.
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 7-hour USPAP update every two years, as well as documenting your continuing education hours during requalification.
If you currently have ISA’s Member designation you will need to continue taking the 7-hour 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 until you fulfill the requirements for the ISA Accredited Member (AM) designation.
If you earn your ISA Member designation after January 1, 2018, then you will be required to abide by the updated criteria. In addition to meeting ISA’s existing membership requirements, the following new requirements will be in effect:
- You will 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, you will need to complete 30 semester hours from an accredited college, junior college, community college, or university.
ISA’s education and experience criteria have been developed to encompass and include all of the AQB requirements. The new criteria will make your designations more credible and trustworthy to potential clients and users of appraisals.
Read more about ISA membership level requirements
Read the full AQB Personal Property Appraiser Qualification Criteria
- Todd W. Sigety, ISA CAPP
ISA TAFAC Representative