The Appraisal Foundation is an organization formed to establish uniform requirements for appraiser qualifications and reporting standards. It is governed by a Board of Trustees and includes three independent boards.
The Appraisal Practices Board (APB) is a board within The Appraisal Foundation, established to identify and offer commentary on appraisal methods and techniques. Their guidance aims to promote clarity and consistency in appraisal practices, but adherence to their recommendations is voluntary.
The Appraisal Standards Board (ASB) of the Appraisal Foundation creates, revises, and disseminates the Uniform Standards of Professional Appraisal Practice (USPAP) to ensure standardized, quality valuation practices in real estate.
The Appraiser Qualifications Board (AQB) sets the minimum education, experience, and exam standards for real property appraisers, ensuring consistency and quality within the appraisal profession.
Uniform Standards of Professional Appraisal Practice (USPAP) is a set of requirements covering ethics, record keeping, research, and reporting promulgated by the Appraisal Foundation, and adhered to by its members.
