Real Estate Appraisal – Archives

AQB -Appraiser Work Experience Form Changes

If you are currently a Florida registered trainee appraiser, or a certified residential appraiser and will be applying to upgrade your license to become a Florida certified residential or certified general appraiser, or have submitted an application after December 2009, this alert is for you.

The Appraiser Qualifications Board (AQB) adopted Guide Note 6 in June 2008. This Guide Note makes it necessary for the department to ask for and verify additional information which is to be submitted by an applicant on their work experience log. Florida adopted the new requirements in 2008 and revised the format of the Appraiser Experience Log, Form RE-2300, at that time.

Applications received after the January 2010 revision date should include a revised work log that is signed and dated by the applicant and their supervisor. The revised form may be found by choosing the “Forms” link above on this page and choosing the appropriate link. It is available in both an Excel Spreadsheet format and Adobe Acrobat format. Both are enterable forms which you may copy to your computer for completion.

If you would like more information, the changes to Chapter 61J1-4.010, Florida Administrative Code may be viewed by choosing the “Statutes and Rules” link above on this page, then choosing the “Chapter 61J1” link.

Additional information on the AQB’s Guide Note 6 and other Guide Notes may be reviewed on the Appraisal Foundation website.

ASC -ALERT – National Registry Fee Increase Effective January 1, 2012

With the passing of the Dodd-Frank Act, Congress granted the Appraisal Subcommittee (ASC) authority to increase the registration fee for the National Registry from $25.00 per year to $40.00 per year, or a total of $80.00 for a two-year credential. The fee increase impacts any person who is applying to become a certified appraiser in Florida.

If you are submitting an application to become a certified residential or certified general appraiser on or after January 1, 2012 you must submit an application fee of $360.00 to cover this increased registration cost.

Regulation of Appraisal Management Companies – Effective July 1, 2011

On July 21, 2010 President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Act requires State regulatory agencies to regulate Appraisal Management Companies (AMC). Florida’s regulatory program for AMCs was created in 2010 when House Bill 303 was signed into law. It became Chapter 2010-84 and amends Section 475, Part II, Florida Statutes.

As of July 1, 2011, it is essential for an appraisal management company to immediately file an application to register with the Department; however, you can continue to operate while the Department and/or the board is considering your application for approval. Once approved, you will receive your license in the mail. An application that is denied must comply with the terms of the Final Order issued by the board.

What is an appraisal management company (AMC)?

“Appraisal management company” means a person who performs appraisal management services.

“Appraisal management services” means the coordination or management of appraisal services for compensation by:

1. Employing, contracting with, or otherwise retaining one or more appraisers to perform appraisal services for a client; or
2. Acting as a broker or intermediary between a client and one or more appraisers to facilitate the client’s employing, contracting with, or otherwise retaining the appraisers.

Who will be required to register as an AMC?

475.6235 Registration of appraisal management companies required.—

(1)A person may not engage in appraisal management services for compensation in this state, advertise or represent herself or himself as an appraisal management company, or use the titles “appraisal management company,” “appraiser cooperative,” “appraiser portal,” or “mortgage technology company,” or any abbreviation or words to that effect, unless the person is registered with the department as an appraisal management company under this section. However, an employee of an appraisal management company is not required to obtain a separate registration.

If you are a person who possesses the authority, directly or indirectly, to direct the management or policies of the appraisal management company, whether through ownership, by contract, or otherwise you are considered an authorized representative and must be included in the application process.

ALERT – ALERT – ALERT  – FREAB Meeting Update

NOTICE OF MEETING DATE CHANGE

As of July 1, 2015, the dates of the Florida Real Estate Appraisal Board General Meeting for August 2015 have been changed. The revised meeting dates were Monday, August 10^th and Tuesday, August 11^th, 2015. The meeting began Monday at 8:30 a.m. and continued on Tuesday at the same time until all business had been completed. The location of the meeting was: Zora Neale Hurston Building, 400 West Robinson Street, Suite N901, Orlando, FL 32801. The agenda and materials for the meeting were available on this website, not less than seven days before the meeting.

Proper Display of Florida Real Estate Appraiser Designation and License Number

Florida’s real estate appraisers are reminded of Florida Statute and Florida Administrative Code (rule) requirements for the proper display of appraiser designations and license numbers. While there have been many recent changes to the appraisal report forms used by real estate appraisers to conduct their daily business, Florida Statute and Rule remain the same.

The real newest appraisal forms used for residential mortgage lenders contain revised language within the signature block where an appraiser affixes their license designation and number. The new forms don’t require the display of an appraiser’s designation, only a license number.

Failure to include your designation in the signature block is a violation of Chapter 475.622, Florida Statutes and Rule 61J1-7.001, Florida Administrative Code, which detail the requirements for the proper display of an appraiser’s designation and number within the appraisal report.

Any failure to properly display your designation and license number in an appraisal report that is submitted to a client could result in discipline against your license as defined in Rule 61J1-8 Disciplinary Guidelines.

The Statutes and Rules can be found by choosing the “Statutes and Rules” link above on this page and choosing the appropriate link.

ALERT – Rule Discussion

The Florida Real Estate Appraisal Board AMC Rules Committee will be discussing Rule 61J1-9.002, Florida Administrative Code at a special rules meeting scheduled for Wednesday, October 31, 2012, beginning at 10:00 a.m. via teleconference. This meeting is open to the public.

Place: Zora Neale Hurston Building, 400 West Robinson Street, Suite N901, North Tower Conference Room, Orlando, Florida 32801 or contact Lori Crawford for the phone number and passcode to participate via teleconference.

Purpose: Three designated members of the Florida Real Estate Appraisal Board and one former member have been designated as the AMC rules committee. This committee is meeting to discuss language for Rule 61J1-9.002. Florida Administrative Code.

Appraiser Rule Changes in Effect for 2012

Calendar year 2011 was a very busy year for the Florida Real Estate Appraisal Board as they worked to meet Governor Scott’s initiative of reducing rules and regulations. Eight subsections of Rule 61J1-1 were repealed with an effective date of January 30, 2012.

In addition, the following rules have been updated to include language incorporating guidelines for Appraisal Management Companies:

61J1-2.003 Inactive Renewal

61J1-7.004 Office

61J1-8.002 Disciplinary Guidelines

61J1-8.005 Revocation

The text of Rule 61J1-7.008 Mailing Address was modified to use the language of “address of record” as defined in Section 455.275(1), Florida Statutes.

Rule 61J1-9.001 has been updated to include the 2012-2013 Uniform Standards of Professional Appraisal Practice.

The complete text of the above rules may be viewed on the Florida Administrative Code website: https://www.flrules.org/gateway/Division.asp?DivID=282

DISPLAY AND DISCLOSURE OF REGISTRATION, LICENSE OR CERTIFICATION DESIGNATION BECAME EFFECTIVE JULY 17, 2011

Florida’s appraisers know there is a new way to display their designation and license number. Rule 61J1-7.001 has been revised to simplify the designations or abbreviations used by real estate appraisers. The change removes some of the challenges encountered with the use of digital signatures in electronic appraisal reporting.