21 NCAC 57A .0605         REPORTING APPRAISAL EXPERIENCE

(a)  Applicants shall use the Appraisal Board's Appraisal Experience Log to report appraisal experience, or in the alternative, applicants shall complete the requirements of the Practical Applications of Real Estate Appraisal (PAREA) of the Real Property Appraiser Qualification Criteria as implemented by The Appraisal Foundation's Appraiser Qualifications Board, and shall submit a certificate of completion. The appraisal experience log is available on the Board's website at www.ncappraisalboard.org.

(b)  The Log shall contain the following:

(1)           the applicant's name and signature;

(2)           the supervisor's name and signature;

(3)           the supervisor's certificate number;

(4)           the date the supervisor signed the log;

(5)           the subject property address;

(6)           the date the appraisal report was signed;

(7)           the report type, such as an appraisal report, a restricted appraisal report, or the type of reporting form used;

(8)           the client's name;

(9)           the applicant's file number for the appraisal assignment, if any;

(10)         the number of actual work hours by the trainee applicant on the assignment;

(11)         whether the supervisory appraiser accompanied the applicant on the inspection of the subject property; and

(12)         a description of the work performed by the applicant and his or her supervisor on each assignment.

(c)  Applicants shall retain copies of all appraisals and their associated work files in accordance with the Record Keeping Rule of USPAP to support all appraisal experience reported on the log.

History Note:        Authority G.S. 93E-1-6.1; 93E-1-10;

Eff. July 1, 2016;

Amended Eff. September 1, 2019;

Amended Eff. Pending legislative review pursuant to G.S. 150B-21.3;

Amended Eff. December 31, 2025.