Alabama Real Estate Appraisers Board Report
April 1, 2019
On March 21, the Alabama REALTORS® Public Policy team attended the Alabama Real Estate Appraisers Board (AREAB) meeting in Montgomery to monitor for impacts on the real estate industry and property owners. AREAB is responsible for protecting public interest by ensuring that all consumers of real estate appraisal services receive such services from appraisers who are fully qualified in accordance with both federal and state law.
In the meeting, AREAB members gave an update on the legislative amendment to current appraisal law that would establish in state law a definition for evaluations done by federal banking entities under federal guidelines. It was reported that this legislation will be introduced soon during the 2019 Legislative Session.
AREAB members also approved the Board to start sending out renewal notices to each licensee prior to an appraisal license expiring.
Finally, it was reported that some AREAB members’ terms are expiring on the Board this year. Those who are not eligible for reappointment will be replaced by new appointments by Governor Ivey.
Alabama Real Estate Appraiser Board Background
AREAB was created by the State Legislature (ACT 90-639) in 1990. This followed the enactment of U.S. Public Law 101-73 in 1989, which required that each of the states establish an agency for the licensure, certification and regulation of appraisers.
These responsibilities are accomplished by AREAB through a variety of efforts including testing of potential licensees, pre-license and continuing education requirements, investigation of complaints and disciplinary action against licensees as warranted.
The AAR Public Policy team will continue to monitor state regulatory agencies for potential impacts on REALTOR® members, the real estate industry and private property owners.