Which entity is responsible for ensuring that real estate appraisals are conducted by qualified appraisers who follow USPAP?

Which entity is responsible for ensuring that real estate appraisals are conducted by qualified appraisers who follow USPAP?

• A. The federal government
• B. The state where the appraiser is licensed or certified
• C. The local appraisal board
• D. The National Association of Realtors

Answer: (B)

The answer is based on the understanding that each state is responsible for regulating real estate appraisers within its jurisdiction. State appraisal boards or agencies establish licensing requirements, oversee the qualifications of appraisers, and ensure that they adhere to the Uniform Standards of Professional Appraisal Practice (USPAP). This responsibility is essential for maintaining the integrity and quality of appraisals, which are critical in real estate transactions. By enforcing these regulations, the state ensures that only qualified individuals are performing appraisals, which helps protect consumers and maintain public trust in the real estate market. While the federal government and other entities may provide overarching guidelines or frameworks for appraisal practices, it is the state boards that have the direct authority and responsibility for the licensing and regulation of appraisers on the ground.

The answer is based on the understanding that each state is responsible for regulating real estate appraisers within its jurisdiction. State appraisal boards or agencies establish licensing requirements, oversee the qualifications of appraisers, and ensure that they adhere to the Uniform Standards of Professional Appraisal Practice (USPAP). This responsibility is essential for maintaining the integrity and quality of appraisals, which are critical in real estate transactions.

By enforcing these regulations, the state ensures that only qualified individuals are performing appraisals, which helps protect consumers and maintain public trust in the real estate market. While the federal government and other entities may provide overarching guidelines or frameworks for appraisal practices, it is the state boards that have the direct authority and responsibility for the licensing and regulation of appraisers on the ground.