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 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.
Certification in real estate refers to an appraiser's formal attestation of freedom from bias in an appraisal report and the official acknowledgment of one's expertise, often mandated by state regulations.
A Counselor of Real Estate (CRE) is a professional designation granted to individuals who are recognized for their expertise, experience, and high ethical standards in the field of real estate. This designation is awarded by The Counselors of Real Estate organization, an international group of real estate professionals.
The Departure Provision, formerly found in the Uniform Standards of Professional Appraisal Practice (USPAP), allowed appraisers to depart from specific requirements given that the departure did not result in misleading assignments. However, this provision was replaced with the Scope of Work rule, emphasizing transparency in how an appraisal is conducted.
The Institute for Professionals in Taxation (IPT) is an organization dedicated to the uniform and equitable administration of ad valorem and sales and use taxes while minimizing the costs of tax administration and compliance. It emphasizes professional ethics and standards.
A REALTOR®-ASSOCIATE is a licensed real estate salesperson who is a member of the NATIONAL ASSOCIATION OF REALTORS® (NAR) and operates under the supervision of a Realtor®-Broker.
