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Board adopts amended Rule 5.1 clarifying who may provide supervised appraisal experience
Summary
The Board of Real Estate Appraisers adopted a permanent amendment to Rule 5.1 on March 3, 2022 to clarify that an appraiser providing experience must hold an appropriate credential and be in good standing; the board noted the statutory limit that a licensed residential appraiser may supervise experience within the scope of that license.
The Colorado Board of Real Estate Appraisers on March 3, 2022 adopted a permanent amendment to Rule 5.1 to clarify requirements for appraisal experience gained under the guidance of another credentialed appraiser.
Director Waters described the change to the board: the proposed language clarifies that an appraiser who provides guidance must hold the credential appropriate to the work being supervised and be in good standing (the division interprets that as no disciplinary actions in the prior three years). Waters told the board staff had seen applications in which the reported supervisor…
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