Iowa Administrative Code › Agency 193F - Real Estate Appraiser Examining Board › Chapter 5 - Certified Real Estate Appraiser › Rule 193F-5.6 - Work Product Review

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
			 An applicant will submit a complete appraisal log at the time of application
			 for examination and experience consistent with the AQB criteria. Three
			 appraisal reports will be selected by the board from the log. The applicant
			 will submit electronically one copy of each report and work file for each of
			 the selected appraisals along with the appropriate fee. The work product
			 submission will not be redacted by the applicant. The board reserves the right
			 to request additional appraisals if those submitted by the applicant raise
			 issues concerning the applicant's competency or compliance with applicable
			 appraisal standards or the degree to which the submitted appraisals are
			 representative of the applicant's work product.
(2) The board will treat all appraisals
			 received as confidential pursuant to USPAP. While applicants are encouraged to
			 submit appraisals actually performed for clients, applicants may submit
			 demonstration appraisals if based on factual information and clearly marked as
			 demonstration appraisals.
(3) An
			 applicant seeking original certification as a certified general real estate
			 appraiser will submit one residential appraisal and two nonresidential
			 appraisals for review. An applicant seeking an upgrade certification to a
			 certified general real estate appraiser will submit two nonresidential
			 appraisals for review.
(4) The
			 board will submit the appraisals to a peer review consultant for an opinion on
			 the appraiser's compliance with applicable appraisal standards.
(5) The work product review process is not
			 intended as an endorsement of an applicant's work product. No applicant or
			 appraiser will represent the results of work product review in communications
			 with a client or in marketing to potential clients in a manner that falsely
			 portrays the board's work product review as an endorsement of the appraiser or
			 the appraiser's work product. Failure to comply may be grounds for
			 discipline.
(6) The board views
			 work product review, in part, as an educational process. While the board may
			 deny an application based on an applicant's failure to adhere to appraisal
			 standards or otherwise demonstrate a level of competency upon which the public
			 interest can be protected, the board will attempt to work with applicants
			 deemed in need of assistance to arrive at a mutually agreeable remedial plan. A
			 remedial plan may include additional education, desk review, a mentoring
			 program, or additional precertification experience.
(7) An applicant who is denied certification
			 based on the work product review described in this rule, or on any other
			 ground, will be entitled to a contested case hearing. Notice of denial will
			 specify the grounds for denial, which may include any of the work
			 performance-related grounds for discipline against a certified
			 appraiser.
(8) If probable cause
			 exists, the board may open a disciplinary investigation based on the work
			 product review of an applicant. A potential disciplinary action could arise,
			 for example, if the applicant is a certified residential real estate appraiser
			 seeking an upgrade to a certified general real estate appraiser, or where the
			 applicant is uncertified and is working under the supervision of a certified
			 real estate appraiser who cosigned the appraisal report.
(9) After accumulating a minimum of 500 hours
			 of appraisal experience, an applicant may voluntarily submit work product to
			 the board to be reviewed by a peer reviewer for educational purposes only. A
			 maximum of three reports may be submitted for review during the experience
			 portion of the certification process. Work product submitted for educational
			 purposes only will not result in disciplinary action on either the associate
			 appraiser or the associate appraiser's supervisor so long as the appraisal
			 review did not reveal negligent or egregious errors or omissions. The fee for
			 voluntary submissions of work product for review is provided in 193F-Chapter
			 11.
(10) The board will retain the
			 appraisals for as long as needed as documentation of the board's actions for
			 the Appraisal Subcommittee or as needed in a pending proceeding involving the
			 work product of the applicant or the applicant's supervisor. When no longer
			 needed for such purposes, the work product may be retained or destroyed at the
			 board's discretion.