South Carolina Board updates real estate appraiser regulations to meet federal standards

On April 24, 2025, the South Carolina Legislature convened a Full Committee meeting to discuss significant updates to regulations governing real estate appraisers. This meeting was particularly important as it addressed the alignment of state regulations with federal standards set forth by the Appraiser Qualifications Board (AQB) and the requirements of the federal law known as FIRIA. These changes are set to take effect on January 1, 2026.

The proposed regulations aim to revise education and experience requirements for licensure, as well as update continuing education provisions that had become outdated. The subcommittee responsible for reviewing these regulations voted to advance them to the full committee with a neutral recommendation, indicating a need for further discussion among committee members.

During the meeting, Holly Beeson from the South Carolina Real Estate Appraisers Board provided insights into the complexities of the changes. She noted that the extensive packet of information presented to the committee included details about the relationship between federal regulations and the AQB, which is responsible for establishing educational standards for appraisers. The necessity for these updates stems from federal mandates that require compliance for appraisers involved in federally related transactions, such as federally guaranteed loans.

One of the key points of discussion was the impact of these changes on continuing education requirements. While the updates will add additional hours of continuing education for licensed appraisers, certified appraisers will not see an increase in their total educational requirements, as their standards have been adjusted to accommodate the new regulations.

The committee acknowledged the importance of adhering to federal guidelines to ensure that South Carolina appraisers can continue to participate in federal mortgage loan programs. The discussions highlighted the ongoing challenges faced by the state in balancing federal requirements with local needs, particularly in the realm of real estate appraisal.

As the committee moves forward, the implications of these regulatory updates will be closely monitored, particularly as they relate to the education and professional development of appraisers in South Carolina. The anticipated changes reflect a broader trend of increasing regulatory oversight in the real estate sector, aimed at enhancing the quality and integrity of appraisal practices statewide.