Wyo. Code R. 018-0001-1
Effective Date: 10/26/2007 to 10/03/2008
Rule Type: Superceded Rules & Regulations
Reference Number: 018.0001.1.10262007
CERTIFIED REAL ESTATE APPRAISER BOARD EMERGENCY RULES AND REGULATIONS
For the 120 days the emergency rules are in effect, the following rules shall apply:
Section 1. Authority. Pursuant to the authority vested in the Certified Real Estate Appraiser Board by virtue of W. S. 16-3-101 through 16-3-115 and W. S. 33-39-101 through 33-39-130, the following rules and regulations are hereby promulgated.
The Certified Real Estate Appraiser Board hereby adopts the Rules of Practice and Procedure which are generally applicable to the Certified Real Estate Appraiser Board proceedings before the director under the statutes he administers, particularly those which involve a hearing before the board, or its duly designated officer. Copies of said rules and amendments are available upon request.
(a) The term 'permit number' means the permit number, which appears on the permit issued to an appraiser or trainee by the Certified Real Estate Appraiser Board. Permit number and type of certification must appear on all appraisal reports, i.e., 'Certified General Real Estate Appraiser, Wyoming Permit No.__', 'Certified Residential Real Estate Appraiser, Wyoming Permit No._', 'Real Estate Appraisal Trainee, Wyoming Permit No.___.'
(b) The term 'director' means the director of the Real Estate Commission who serves on the board as a non-voting ex officio member.
(c) 'Trainee' is a non-certified person who works with and assists a certified appraiser in the preparation of appraisals for purposes of gaining experience to become a certified appraiser.
(d) 'Temporary work' means that the appraiser's work is of a temporary nature and certified by the appraiser not to exceed one (1) appraisal assignment to be completed within six (6) months from date of issuance of temporary permit.
(e) 'Residential appraisal' includes the appraisal of vacant or unimproved land or property that is utilized for 1-4 residential units or for which the highest and best use is for 1-4 residential units.
(f) 'Board' or 'WCREAB' means the Wyoming Certified Real Estate Appraiser Board.
(g) 'AQB' means the Appraiser Qualifications Board.
(h) “USPAP” means the Uniform Standards of Professional Appraisal Practice.
(a) These Rules and Regulations shall not apply to a real estate broker, associate broker or salesman who, in the ordinary course of their business, gives an opinion of the price of real estate for the purpose of a prospective listing or sale, provided, however, this opinion of the price shall not be referred to as or construed to be an appraisal.
| (a) The following non-refundable fees shall be charged by the Certified Real Estate Appraiser Board: | |
|---|---|
| (i) Examination fee | $100 |
| (ii) Certified general, residential or trainee two (2) year permit | $400 |
| (iii) Renewal of Certified general, residential or trainee two (2) year permit | $400 |
| (iv) Change of address or contractual association | $ 20 |
| (v) Duplicate permit or pocket card | $ 20 |
| (vi) Education account | $ 20 |
| (vii) Permit for temporary work | $150 |
| (viii) Course or Instructor Approval | $ 50 |
| (ix) Federal Registry Fee (annual) | $ 25 |
| (x) Late Renewal Fee | $100 |
(a) An applicant shall complete all requirements for the level of certification they apply for, including the education requirements shown in Section 7; the exam requirements described in Section 8; and the experience required in Section 9; and complete an Application for a permit as described in Section 10.
(a) All applicants must attend a 15-hour national USPAP course or its equivalent taught by an AQB-certified USPAP instructor, and pass the associated 15-hour national USPAP course examination.
(b) In order to qualify for a permit to practice as a Certified General Real Estate Appraiser, an applicant must furnish proof of having successfully completed one-hundred eighty (180) creditable classroom hours of courses in subjects related to real estate appraisal which meet the required core curriculum established and published by the Board.
(c) In order to qualify for a permit to practice as a Certified Residential Real Estate Appraiser, an applicant must furnish proof that they have successfully completed one-hundred twenty (120) creditable classroom hours of courses in subjects related to real estate appraisal which meet the required core curriculum established and published by the board.
(d) Distance education can be used as qualifying education if the course is approved by the board, meets AQB criteria and has a proctored final exam at the completion.
(e) In order to qualify for a permit to practice as a certified real estate appraiser trainee, an applicant must furnish proof of having successfully completed seventy-five (75) creditable classroom hours, including USPAP, which meet the required core curriculum established and published by the board.
(a) Prior to taking the exam for a permit to practice as a certified real estate appraiser, the applicant shall furnish proof to the board that they have completed the applicable education required by Section 7.
(b) The applicant must pass the examination prior to submitting an application for certification and furnish proof of work experience. Examination fees will not be refunded if the board does not approve the applicant for certification.
(c) Every applicant desiring to become certified as an appraiser shall register for the WCREAB approved examination with the testing service under contract with the board.
(i) Failure to complete the examination on the scheduled date will result in forfeiture of the examination fee.
(ii) To re-write the examination, any applicant who does not attain a passing score must register with the testing service under contract with the board and submit the examination fee.
(d) A notice to an applicant that they have received a passing score on the WCREAB approved examination does not constitute a permit to practice.
(e) An applicant who does not complete the experience requirement within twenty-four (24) months of passing the examination must retake and pass the examination. Examination scores are not valid after twenty-four (24) months.
(a) To be certified as a residential real estate appraiser or a general real estate appraiser, an applicant must present evidence to the board that the experience requirement has been satisfied.
(b) A certified residential appraiser shall have two (2) years of experience and a general appraiser shall have two and one-half (2 ½) years of experience in real property appraisal acquired within the five (5) year period immediately preceding the filing of the application for certification.
(c) Effective July 1, 2003, in order to obtain certification as a residential appraiser, the total experience shall consist of a minimum of one hundred seventy-five (175) supportable and documented residential appraisal reports to include at least one hundred (100) complete appraisals as defined in the Uniform Standards of Professional Appraisal Practice in compliance with W.S. 33-39-107.
(i) Where the experience claimed is in the capacity of a reviewing appraiser, the total experience shall consist of reviewing a minimum of two hundred fifty (250) residential reports. A reviewing appraiser is one who has reviewed the report as a reviewing appraiser in compliance with W.S. 33-39-107.
(ii) In the event the experience claimed consists of a combination of performing appraisals and of a reviewing appraiser, the experience claimed shall consist of a minimum of one hundred (100) residential appraisal reports and a minimum of one hundred twenty-five (125) review appraisal in compliance with W.S. 33-39-107.
(d) Effective July 1, 2003, in order to obtain certification as a general real estate appraiser, the total experience shall consist of a minimum of fifty (50) non-residential appraisal reports, excluding residential lots of 1-4 units, to include at least forty (40) complete appraisal reports that are supported, documented and presented in a format in compliance with the Uniform Standards of Professional Appraisal Practice in compliance with W.S. 33-39-107; or
(i) Where the experience claimed is in the capacity of a reviewing appraiser, the total experience shall consist of reviewing a minimum of seventy-five (75) non-residential reports. A reviewing appraiser is one who has reviewed the report as a reviewing appraiser as defined in the Uniform Standards of Professional Appraisal Practice in compliance with W.S. 33-39-107, or
(ii) Where the experience claimed consists of a combination of performing appraisals and of a reviewing appraiser, the experience claimed shall consist of reviewing a minimum of fifty (50) non-residential appraisal reports and production of twenty-five (25) non-residential appraisal reports that are supported, documented and presented in a format as defined in the Uniform Standards of Professional Appraisal Practice in compliance with W.S. 33-39-107.
(e) In case an applicant is unable to meet any of the above criteria due to the scale or the complexity of the appraisal performed, the board may take these facts into consideration and may accept less than the required number of reports based upon the extent that the appraisal are shown to have required the expenditure of more time or the use of a higher degree of skill than the average appraisal.
(f) An applicant for general or residential certification must submit with their application an appraisal report they have completed that is fully self-contained, with original photographs, that addresses all three approaches to value. Such report will be returned after it is reviewed by the board.
(g) In order for a trainee to obtain experience necessary to become certified under federal requirements, a certified appraiser may utilize the services of a trainee as long as the certified appraiser:
(i) Signs the final appraisal document and assumes full responsibility for it;
(ii) Does not allow the “trainee” to make any representations regarding the appraisal to a third party; and
(iii) Discloses in the appraisal report the name of the trainee and the scope of the trainee’s contribution to the report.
(a) All requirements of Sections 7, 8 and 9 must be complete prior to submitting an application for certification to the board. The applicable requirements of Section 7 must be completed prior to submitting an application for a trainee permit to the board.
(b) Each person desiring to become certified as a real estate appraiser shall execute an application.
(i) Applications which are not complete and accompanied by the correct fee will not be accepted and will be returned to the applicant.
(ii) Applicants must be at least eighteen (18) years of age.
(c) At the time of application for general or residential certification, an applicant must submit an appraisal report and meet all requirements of the demonstration report guidelines provided by the board. Should the review of the demonstration report not meet the minimum requirements set forth by the board, the applicant shall pay the full cost of subsequent demonstration report reviews.
(d) All applicants must submit a completed fingerprint card.
(e) All applicants shall submit an appraisal log on a form provided by the board to verify the applicant’s experience.
(f) A permittee whose permit is held by the board on an inactive status must apply for renewal of such inactive permit and pay the renewal fee.
(a) A renewal application shall include proof that the permittee has completed at least thirty (30) hours of continuing education, which meets the curriculum established and published by the board, during the preceding two (2) year renewal period. Repetitious course work in the same curriculum will not be credited, excluding the 7-hour National USPAP Update Course.
(i) An inactive permittee will not be required to furnish proof of continuing education until such time as they request activation of the permit.
(b) All permittees shall successfully complete one (1) AQB-approved 7-hour national USPAP update course during every two (2) year renewal cycle.
(c) Distance education can be used as continuing education if the course/seminar meets the AQB criteria and is approved by the board. A proctored exam is not required but an applicant must successfully complete all prescribed course mechanisms.
(d) Failure to remit renewal fees when due, will cause a permit to lapse.
(i) A lapsed permit can be reinstated within sixty (60) days upon payment of the renewal fee and late renewal fee.
(ii) Any permittee whose permit has not been renewed within the sixty (60) day grace period must comply with all requirements of a new applicant.
(a) Any entity or individual requesting approval of a course/seminar or an instructor requesting approval by the board must submit an application on forms prescribed by the board which require information concerning the course/seminar being offered, course/seminar outline, examination, grading system and instructor qualifications.
(b) 'Proof of attendance' is a certified transcript or certificate from the entity offering the course/seminar which states the name of the permittee, the title of the course/seminar, and the date of completion.
(c) The board may accept the following courses/seminars as meeting standards for appraiser education:
(i) Any appraisal course/seminar that is approved by the AQB and the board.
(ii) Any appraisal course/seminar approved by the board or by an appraiser regulatory body in any state or province with approval standards equal to those established by the board.
(d) The board may approve courses/seminars by other schools, professional societies or organizations if they meet board standards.
(e) Pre-certification education courses must be at least fifteen (15) classroom hours in duration.
(f) Seminars for continuing education must be at least three (3) classroom hours in duration.
(g) An approved course/seminar may be monitored by a representative of the board.
(h) Each course/seminar approval is good for three years, after which the provider must request approval for another three-year period and submit the prescribed fee.
(a) Course/seminar instructors must have forty (40) hours of teaching appraisal course/seminar experience within the past two (2) years and shall meet at least one of the following qualifications, unless granted an exemption by the board:
(i) A bachelor's degree in the field in which the person is instructing;
(ii) Five (5) years of current experience in the subject instructed.
(a) If the board determines that an instructor, or offering previously approved, no longer meets the prescribed standards, a written notice of withdrawal of approval shall be given stating the reasons for the withdrawal. The withdrawal becomes effective twenty (20) days from the date of the notice unless the person or entity giving the course/seminar files a written request for a hearing prior to the effective date.
(i) If a request for a hearing is timely filed, the withdrawal of approval will not become effective except upon order of the board issued within ninety (90) days after the hearing.
(a) The board shall not entertain complaints between permittees concerning matters of fees or the earning, splitting or nonpayment thereof.
In addition to the statutory grounds for disciplinary action against a permittee (W.S. 33-39-123), the board may take similar disciplinary action for any of the following:
(a) An act or omission involving dishonesty, fraud or misrepresentation;
(b) Failure or refusal, without good cause, to exercise reasonable diligence in developing an appraisal, preparing an appraisal report or communicating an appraisal; or
(c) Failure to notify the board of a change of address within 30 days.
(d) Appraising a property type that is outside the scope of a Certified Residential permit. However, appraisers holding a Certified Residential permit may obtain the experience necessary to upgrade to a Certified General permit by appraising properties that are outside the allowed scope of a Certified Residential permit by associating with an appraiser holding a Wyoming Certified General permit, provided that:
(i) The appraiser holding the Certified General permit must review, sign, and accept responsibility for the appraisal and report, and
(ii) The report must fully disclose each appraiser’s role in the appraisal and reporting process, and
(iii) The Certified Residential permit holder must not make any representations regarding the value analysis to a third party.
(e) Failure to produce documents and records concerning an appraisal under investigation by the board.
(f) Failure to appear and to testify under oath at a hearing held by the board.
(a) An appraiser certified in his resident state may apply for a permit in Wyoming for temporary work for one (1) appraisal assignment to be completed within six (6) months from date of issuance of temporary permit.
(i) The appraiser must submit to the board a copy of the engagement agreement for the assignment and pay the fee for the permit for temporary work.
(ii) A single appraisal assignment may include one or more properties under one contract for a single client.
(iii) One extension to the permit for temporary work may be granted.
(a) A supervising appraiser shall be responsible for and provide direct supervision of the work performed under their supervision. The supervising appraiser shall:
(i) Notify the Wyoming Certified Real Estate Appraiser Board of the name(s) and other board required information for each trainee under supervision.
(ii) Sign and review the appraisal and assumes full responsibility for it; and
(iii) Not allow the “trainee” to make any representations regarding the appraisal to a third party; and
(iv) Disclose in the appraisal report the name of the trainee and the scope of the trainee's contribution to the report.
(v) Maintain an appraisal log jointly with the appraiser trainee that shall, at a minimum, include the following for each appraisal;
(b) Upon request, the supervising appraiser shall provide the board with a copy of any appraisal report that a trainee signed under their supervision.
(c) The appraiser trainee shall be entitled to copies of appraisal reports they prepare.
(d) The supervising appraiser shall physically inspect each property that the appraiser trainee is appraising until such time as they deem the appraiser trainee satisfies the competency provision of the Uniform Standards of Professional Appraisal Practice.
(e) The supervising appraiser shall hold a permit from and be in good standing in the training jurisdiction. The supervising appraiser must have been certified for a minimum of two (2) years. The supervising appraiser shall not have been subject to any probation, suspension or revocation by an appraiser regulatory agency within the previous two years.
(f) The appraiser trainee shall be permitted to work under more than one supervising appraiser, however, no supervising appraiser may supervise more than three (3) appraiser trainees at any one time.
(g) The supervising appraiser must be within reasonable geographic proximity to the appraiser trainee.
Section 19. Responsibilities of an appraiser trainee.
Trainees must: