Appraisals Without a Client

Question: I have heard that I can gain experience credit by doing "appraisals without a client" under the supervision of a school or even doing a vacant house on my own. Is this information accurate?

Answer: Your information is accurate.

See PDF page 28 of The Real Property Appraisal Criteria, AQB, 2006

”Appraisals in conformance with USPAP may be made without a client. They can qualify for experience credit toward a credential, but there are special considerations a credentialing authority must consider. Without a client, the appraiser determines the type of appraisal and type of report. In instances where appraisals were never presented to anyone with a stake in a potential transaction, there is no oversight entity to verify data and ensure that it was correctly analyzed and interpreted. There is no potential for feedback to the appraiser on his or her performance.”

The same document (PDF page 34) says:

”There need not be a client in order for an appraisal to qualify for experience, but experience gained for work without a client cannot exceed 50% of the total experience requirement. Case studies or practicum courses that are approved by the AQB Course Approval Program can satisfy the non-client experience requirement.”

Conclusions:

• An appraiser can do 50% of total experience without a client. Supervision by a school appears to be optional.

• These are AQB rules. GREAB rules may be different.