What is the purpose of an appraisal licensing board?

The purpose of an appraisal licensing board is to ensure adherence to established standards of practice and ethics within the appraisal profession. These boards are responsible for setting guidelines that govern appraisals, including compliance with laws and regulations, to maintain the integrity and quality of appraisals. They play a vital role in protecting the interests of the public and ensuring that appraisers conduct their practices fairly and competently.

The enforcement of ethical standards helps to foster trust between appraisers and the users of appraisal services, such as lenders, clients, and the general public. By overseeing licensing and ongoing education, appraisal boards also help ensure that practitioners remain knowledgeable about current industry practices, thus promoting professionalism in the field.