There has been increasing confusion in the appraisal profession about regulations. The confusion centers on the difference between real estate appraisers and personal property appraisers.
The term 'Appraiser' is often used for both real estate appraisers and personal property appraisers. To determine if the appraiser is subject to federal or state regulation, you must first determine whether they are real estate appraisers or personal property appraisers.
There are extensive federal and state regulations of real estate appraisers. There are no federal or state regulations of personal property appraisers with the exception of IRS appraisals for charitable donations over $5,000.
Here are some frequently asked questions:
|Frequent Questions||Real |
|Are there federal or state regulations of appraisers?||Yes||No|
|Is there a federal or state license for appraisers?||Yes||No|
|Does the federal or state government require a test to be given to appraisers?||Yes||No|
|Do courts require a federal or state test of the appraiser before allowing testimony?||Yes||No|
|Do courts require a federal or state test of the appraiser before accepting his/her appraisal as evidence?||Yes||No|
|Is there a government organization that certifies appraiser schools?||Yes||No|
|Does the IRS have educational requirements for appraisals for Charitable donations over $5,000?||Yes||Yes|
|Is the Real Estate Appraiser’s USPAP course required for Real Estate Appraisers or Personal Property Appraisers?||Yes, |
|No, not required.|
The Certified Appraisers Guild is the largest personal property appraiser organization in the United States with members coast to coast. The Certified Appraisers Guild is the #1 trainer of personal property appraisers in the world. The Certified Appraisers Guild specializes exclusively in teaching personal property appraising. Therefore, the Certified Appraisers Guild does not teach or test areas of real estate appraisals.
Note: The Certified Appraisers Guild does NOT require members to pass any federal or state REAL ESTATE appraiser exam to obtain or maintain membership.