Members of the National Appraisal Congress (NAC) met with members of Congress and appraisal regulators to deliver a comprehensive solution for training the next generation of appraisers while removing existing inefficiencies from the process. Valuation Review reached out to NAC Chairman Jordan Petkovski for his thoughts on the topic.
NAC met with the offices of two U.S. senators and testified in front of the Appraisal Qualifications Board (AQB) to deliver the group’s comprehensive solution for effectively training new appraisers, which it says also ensures that the process is reasonable for trainers and trainees alike.
In October, NAC officially released the group’s solution for effectuating change when it comes to the training of residential appraisers with the release of a whitepaper titled, “Removing Barriers to Entry into the Residential Valuations Profession: Solutions for Educating, Training and Regulating the Next Generation of Appraisers.”
A group of NAC board members met with representatives for U.S. Sens. Mike Rounds (R-South Dakota) and John Thune (R-South Dakota) to discuss the challenges facing the residential appraisal profession, along with the advocacy group’s proposed residency solution outlined in the NAC’s whitepaper. They then sat down before the AQB panel.
“The AQB panel appeared to be genuinely engaged and intently listened to each panel’s testimony,” Petkovski told Valuation Review. “The AQB posted meaningful questions to those that provided testimony.”
Petkovski provided specific testimony to the AQB focusing on alternative paths to obtaining the experience required for certification in the residential valuations space. Petkovski noted that most of the testimony on these alternative paths resolved to obtain experimental requirements that would work from a logistics standpoint.
“The most notable takeaway for me was the consistent message from each individual providing testimony,” he said. “The need for an alternative path with regards to experimental training was at the core of most participants responses to the original questions posed by the AQB prior to the public hearing.”
Will that help things become easier for the next generation of appraisers?
“Once alternatives have been adopted, yes, the next generation of appraiser professionals will have a more practical approach to achieving certification,” Petkovski said.
The NAC solution advocates for alternative training options that maintain best practices and ethics, while creating more efficient processes.