In 1989, Title XI of the federal Financial Institutions Reform, Recovery and Enforcement Act was adopted by Congress mandating states to license and certify real estate appraisers who appraise property for federally related transactions. The federal law was enacted as a result of the savings and loan crisis.
In response to the federal mandate, the California Legislature enacted the Real Estate Appraisers Licensing and Certification Law in 1990 (AB 527, Chapter 491, Statutes of 1990). The Office of Real Estate Appraisers (OREA) was established within the Business, Transportation and Housing Agency, and charged with developing and implementing a real estate appraiser licensing and certification program compliant with the federal mandate.
In 2012, Governor Brown submitted a reorganization plan to the Legislature. As a result, on July 1, 2013, OREA became the Bureau of Real Estate Appraisers within the Department of Consumer Affairs. The Bureau, which is entirely funded by licensing fees, is a single program comprised of two core components, licensing, and enforcement. The Licensing Unit implements the minimum requirements for licensure, according to criteria established by the federal government and California law, to ensure that only qualified persons are licensed to conduct appraisals in federally related real estate transactions.
Applicants must meet minimum education and experience requirements and successfully complete a nationally approved examination. The Licensing Unit also registers Appraisal Management Companies (AMC) in compliance with California law. The Enforcement Unit investigates the background of applicants, licensees, and AMC registrants to ensure they meet the standards for licensure.
The Enforcement Unit also investigates complaints of violations of California law and national appraisal standards fled against licensed appraisers and registered AMCs.
The Bureau is responsible for the accreditation of educational courses and providers for real estate appraisers. The Bureau has reviewed and approved over 1,800 pre-licensing and continuing education courses. In addition to the real estate appraisal related courses offered by California’s community colleges and universities, the Bureau accredits approximately 70 proprietary schools that provide appraisal education.
Mission: Safeguard public trust by promoting professionalism in the real estate appraisal industry through licensing, education, and enforcement.
Vision: Empowering real estate appraisal excellence.
- Accountability: We take ownership and responsibility for our performance.
- Excellence: We strive for quality, innovation, and continuous improvement of our programs, services, and processes.
- Fairness: We treat everyone equally and make impartial, unbiased decisions.
- Integrity: We are honest, dependable, respectful, and ethical.
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