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Tennessee Real Estate Appraisers Commission

Commission Policies

 

TREAC Policies

  1. The Tennessee Real Estate Appraiser Commission strictly construes Rule 1255-2-.2 and 1255-2-.12 to mean that a course “taken more than once” shall mean a course of the same name and subject matter taken more than once, and a “repeated course” shall mean a course including substantially similar subject matter, whether or not the course has the same name.
  2. As a prerequisite to renewal of a reciprocal real estate appraiser license or certificate, the nonresident license or certificate holder shall submit to the Commission a copy of his or her renewed and/or current license issued by the resident or reciprocal licensure or certification and twenty-eight (28) hours of continuing education which must include a seven (7) hour USPAP update course.
  3. Prior to approval of appraisal experience, all applicants for initial or upgraded licensure or certification shall unless the Commission determines otherwise attend an informal experience review with a member of the Commission to ensure compliance with the Uniform Standards of Professional Appraisal Practice and obtain any other necessary information not apparent from the application. Any trainee, after completing 500 hours of experience, may request an additional preliminary interview to discuss his or her experience.
  4. The Commission may consider anonymous complaints provided that they are accompanied by information which the Commission may rely upon as a factual basis of the complaint. Such information may include a copy of the subject appraisal report and/or comments indicating the alleged violations.
  5. In cases where an applicant may be required to appear before the Commission because they have answered “yes” to question number three (3) on the character information page of their application, and the offense is five (5) years old or older, and the offense does not fall under T.C.A. 62-39-326(3) or (4), the Executive Director of the Tennessee Real Estate Appraiser Commission is authorized to approve any appraiser application in house without presentation to the Commission. The Executive Director in his/her discretion may present applications and/or applicants to the Commission for approval.
  6. When measuring the beginning and ending of the experience period under AQB criteria (currently 24 months for licensed and certified residential and 30 months and for certified general), TREAC will review each appraiser’s experience log and note the dates of the first and last acceptable appraisal activities performed by the applicant. Then, TREAC will calculate the time period spanned between those appraisal activities.
  7. Applicants, which are current credential holders in good standing within another jurisdiction, may obtain reciprocal credentials, temporary practice permits, renewals of existing credentials, and an equivalent credential in Tennessee on or after January 1, 2008 without having to meet the 2008 AQB criteria. If an appraiser holds a valid appraiser credential supported by an AQB approved examination, the appraiser will be deemed to be in full compliance with the 2008 criteria. Evidence of AQB compliance must be verified either through the National Registry, maintained by the Appraisal Subcommittee of Congress, or by a “Letter of Good Standing” from the credentialing jurisdiction.
  8. Licensees that gained licensure or certification by reciprocity, but have subsequently moved to Tennessee and establish residency shall meet all Tennessee required education, experience and examination requirements if they apply for upgrade of licensure/certification.
  9. In cases where an AMC applicant answered “yes” to a question on the character information page of their application, and the offense is five (5) years old or older, and the offense does not fall under T.C.A. 62-39-409 (2) (a) or Rule 1255-08-.01 (1) (f), the Executive Director of the Tennessee Real Estate Appraiser Commission may approve the AMC application without presentation to the Commission. The Executive Director in his/her discretion may present any application to the Commission for approval.
  10. The Commission's Director may automatically approve courses approved by the Appraiser Qualifications Board (AQB) Course Approval Program (CAP). For approval of a CAP approved course the school shall attach the instructor information and IDECC approval (if required) to the course approval application.
  11. A supervising appraiser shall be responsible for the training, guidance, and direct supervision of the Appraiser Trainee by:
    1. Accepting responsibility for the appraisal report by signing and certifying the report complies with USPAP;
    2. Reviewing and signing the Appraiser Trainee appraisal report(s); and
    3. Personally inspecting each appraised property with the Appraiser Trainee until the supervising appraiser determines the Appraiser Trainee is competent, in accordance with the COMPETENCY RULE of USPAP for the property type and has completed and submitted to the TREAC office the minimum five hundred (500) hour experience affidavit.
  12. A supervising certified appraiser shall be in good standing and not subject to any disciplinary action within the last two years that affects the supervisor’s legal eligibility to engage in appraisal practice (such as suspension, revocation, or probation which restricts appraisal practice).

NOTE: Policy Statements are adopted to enhance or clarify laws and rules. Any changes to laws or rules contradictory to the above supersede policies.