Iowa Admin. Code r. 193F-6.5

Current through Regsiter Vol. 46, No. 26, June 12, 2024

Rule 193F-6.5 - [Effective until 5/22/2024] Demonstration of experience

The experience necessary for certification pursuant to Iowa Code section 543D.9 must meet the requirements of this rule. The objective of the demonstration of experience is to ensure that, before the applicant is issued a certificate, the applicant has obtained sufficient diversified experience to perform an appraisal.

(1) The applicant shall provide to the board an appraisal log that includes all information required by the AQB as a precondition for certification and shall maintain the log contemporaneously with the performance of supervised real property appraisal services. The appraisal log shall, at a minimum, include all information as described in 193F-subrule 4.2(4).

(2) The applicant shall accumulate a total of 3,000 hours of appraisal experience in no fewer than 18 months while in active status, of which 1,500 hours must consist of nonresidential appraisal experience. While the hours may be cumulative, the 18 months must have elapsed before an applicant can be certified. Experience claimed must have been performed in compliance with USPAP where the appraiser demonstrates proficiency in appraisal principles methodology, procedures and reporting conclusions. Acceptable appraisal experience includes, but is not limited to, the following:

a. Fee and staff appraisal;

b. Ad valorem tax appraisal;

c. Review appraisal;

d. Appraisal analysis;

e. Appraisal consulting;

f. Highest and best use analysis;

g. Feasibility analysis/study; and

h. Mass appraisal.

(3) The types of experience set out in 6.5(2) are intended neither to exclude other sorts of appraisal experience nor to prescribe a specified minimum array of experience. However, an applicant who cannot demonstrate a background of experience of the diversity manifested by this rule shall bear the burden of showing that the applicant's experience is of sufficient quality and diversity to fulfill the objective of the demonstration of experience. A diversity of experience includes, but is not limited to, the following:

a. Performing all approaches to value (i.e., cost, income, sales);

b. Various reporting types;

c. Appropriate use of various forms (e.g., gPAR, 1004) and formats;

d. Various property types (e.g., vacant land, single-family, multifamily, agricultural, retail, industrial, and special purpose);

e. Various assignments that include varying scopes of work (e.g., as is, as completed or proposed, foreclosure, rural properties, acreages, estates, eminent domain, use of extraordinary assumption or hypothetical conditions); and

f. Diversity in value ranges.

(4) An applicant may be required to appear before the board or its representative to supplement or verify evidence of experience, which shall be in the form of written reports or file memoranda.

(5) The board may require inspection, by the board itself or by its representatives, of documentation relating to an applicant's claimed experience. Such inspection may be made at the board's offices or such other place as the board may designate.

Iowa Admin. Code r. 193F-6.5

ARC 7774B, lAB 5/20/09, effective 6/24/09

Amended by IAB November 12, 2014/Volume XXXVII, Number 10, effective 12/17/2014

Amended by IAB December 5, 2018/Volume XLI, Number 12, effective 1/9/2019

Amended by IAB October 21, 2020/Volume XLIII, Number 9, effective 11/25/2020