About the Oklahoma Real Estate Appraiser Board

The Oklahoma Real Estate Appraiser Board is an independent adjunct to the Oklahoma Insurance Department. The Board consists of seven regular members appointed by the Governor for five year terms, and one ex-officio Chairperson, the Insurance Commissioner. Of the seven regular members, four are real estate appraisers, one represents the commercial banking industry, one is a lay-person, and one is from the real estate sales industry. The Board elects a Vice-Chairperson from among the seven regular Board members.

2013 BOARD MEMBERS

POWERS AND DUTIES OF THE BOARD: The Act places a number of specified powers and duties upon the Board. Briefly, these include the following.

• Promulgate rules and regulations to implement the Act.
• Further define, by regulation, the education, experience and testing requirements, by level, in accordance with the guidelines of the Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council.
• Approve or disapprove applications for certification and issue certificates.
• Define by regulation, continuing education requirements required in accordance with the Act and ASC guidelines.
• Establish administrative procedures for disciplinary proceedings and to censure, suspend and revoke certificates pursuant to these proceedings.
• Perform such other functions and duties as may be necessary in carrying out the provisions of the Act.

APPRAISER REGULATION: The regulation of the real estate appraiser industry is accomplished by a combination of Federal, state, and private involvement.

• The Appraisal SubCommittee (ASC) of the Federal Financial Institutions Examination Council is tasked to oversee the activities of both The Appraisal Foundation and State Appraiser Boards. ASC enforces the requirements of FIRREA with respect to the various licensing jurisdictions. More information about ASC can be found at www.asc.gov.
• The Appraisal Foundation (TAF), a private, not-for-profit educational organization was authorized by Congress and established by the appraisal profession. TAF is the source of Appraisal Standards and Appraiser Qualifications. TAF is parent organization to the Appraiser Qualifications Board (AQB), and Appraisal Standards Board (ASB). More information about TAF may be found at http://www.appraisalfoundation.org
• The AQB establishes the criteria for state licensing, certification and recertification of appraisers. This includes education, experience and examination requirements. Information regarding AQB may be found at http://www.appraisalfoundation.org.
• The ASB sets forth the rules for developing an appraisal and reporting its results. ASB is the proponent agency for the Uniform Standards of Professional Appraisal Practice (USPAP). More may be found at http://www.appraisalfoundation.org.

Much of the work of The Appraisal Foundation is supported through the professional input and financial assistance of Sponsoring Organizations. Currently, there are two types of Sponsors. Appraisal Sponsors are non-profit organizations serving appraisers and Affiliate Sponsors are non-profit organizations serving those with an interest in appraisal, primarily the users of appraisal services. Each Sponsor appoints one member to the Board of Trustees.