Section R. 339.23203 - Appraisal experience for licensure; satisfactory evidenceRule 203. An applicant's experience hours must comply with 1 of the following requirements:
(a) All of the following requirements: (i) Appraisal experience, demonstrated by copies of reports and file memoranda. The applicant shall submit a detailed log to the department that includes all of the following information: (A) Date of each appraisal assignment.(D) Description of work performed by the applicant.(E) Scope of the review and level of supervision of the applicant's supervisory certified appraiser consistent with the AQB criteria, as that term is defined in section 2601(b) of the code, MCL 339.2601, and R 339.23203a.(F) A clear indication of the time devoted to each appraisal.(ii) Work samples that must include the signature and state certification number of the supervisory certified appraiser.(iii) Experience in each of the following areas of the appraisal process:(A) Defining the appraisal problem.(B) Gathering and analyzing data.(C) Applying all appropriate valuation approaches, including cost approach, market approach, income approach, and methodology.(D) Arriving at an opinion of value.(E) Reporting the opinion of value.(iv) Documents that support the information contained in an application, an applicant's experience log, or an affidavit of work experience accepted instead of an experience log before July 1, 2013. The documents and information described in this subdivision must be maintained for not less than 6 years after the date of application.(b) The requirements of an Appraiser Qualification Board (AQB) approved practical applications or real estate appraisal (PAREA) program. An applicant that meets the requirements of this subdivision shall submit to the department a certificate of completion from the provider of an AQB approved PAREA program.Mich. Admin. Code R. 339.23203
1996 AACS; 2002 AACS; 2007 AACS; 2010 AACS; 2018 AACS; 2021 AACS; 2023 MR 8, Eff. 4/27/2023