Standards

The American Society of Appraisers

The American Society of Appraisers is a multi-discipline, professional appraisal society that was founded in 1952. ASA appraisers in real property, business valuation, machinery and technical specialties, gems and jewelry and Personal Property are tested and accredited within their specific area. In order to attain accredited status, Personal Property appraisers must pass a theory and methodology exam as well as a subject matter connoisseurship exam for their area of designation and subject and have approved by peer review actual appraisal reports. Two years of full time appraisal experience are required for Accredited Member (AM) status and five years of full time appraisal experience is the requirement for Senior Accredited Appraiser (ASA) status. In addition, members must adhere to the ASA code of ethics and remain in compliance with the Society's requirements for Continuing Education (100 hours every 5 years). Additionally, because ASA is a founding member of The Appraisal Foundation, ASA members take an initial 15 hour course in the Uniform Standards of Professional Appraisal Practice and take refresher courses as required by their particular discipline.

American Society of Appraisers

 

The Appraisal Foundation

Uniform Standards of Professional Appraisal Practice are Federal minimum standards for appraisers were established in 1987 by The Appraisal Foundation, the not-for-profit educational organization established by joint effort of a number of professional organizations that has been authorized by Congress to establish standards and qualifications for appraisers and appraisals. The Uniform Standards of Professional Appraisal Practice have been adopted by the major professional organizations in the United States and are the generally accepted standards for professional appraisal practice. These standards are reviewed, revised and published annually by the Appraisal Foundation.