#United States #Washington #Appraisal Foundation #Farm Credit System #Rural Appraisal

Transforming Rural Appraisal Education

In a significant development for the appraisal profession, The Appraisal Foundation has teamed up with the Farm Credit System to roll out a transformative initiative known as the Rural Appraisal Practicum Model. Announced on January 6, 2025, this collaboration is designed to tackle the challenges faced by aspiring rural appraisers as they work towards fulfilling their required appraisal experience. With an emphasis on rural and agricultural property appraisals, this structured approach aims to create a solid foundation for practical, hands-on learning opportunities.

Addressing Critical Gaps

The collaboration arose from the Farm Credit System’s recognition of the pressing need for qualified rural appraisers, particularly in areas where gaining practical experience can be challenging. According to Kelly Davids, President of The Appraisal Foundation, this joint venture represents a crucial step toward advancing the appraisal profession. "We are thrilled that the Farm Credit System is working with us to take big, bold steps that will have such a meaningful impact on the appraisal profession," he stated.

The initiative seeks to provide a comprehensive framework that reflects the unique requirements of rural appraisals, ensuring that aspiring appraisers receive the guidance they need to succeed. Davids also emphasized the importance of collaboration, stating, "We cannot do it alone. We are thankful for the shared commitment of the Farm Credit System to these goals."

A Vision for the Future

Ray Wagester, Chair of the Board of Trustees for The Appraisal Foundation, added insight into the foundation’s strategic vision. He remarked, "This is precisely the type of collaboration the Board of Trustees has envisioned for the Foundation as we continually seek opportunities to move the profession forward." This venture not only paves the way for enhanced training but also sets a precedent for future organizations aiming to fill the gaps in appraisal education.

Expertise Collaboration

The Rural Appraisal Practicum Model will be developed through the input of subject matter experts (SMEs) from across the nation, who will work alongside members of the Appraiser Qualifications Board (AQB). The goal is to produce a structured format that can be adopted by individuals or organizations looking to establish a rural-based appraisal practicum. This ambitious year-long initiative will be a pivotal step toward achieving a well-rounded appraisal education.

The Farm Credit System reaffirmed its commitment to this cause, stating, "We in the Farm Credit System are extremely excited about our collaboration with The Appraisal Foundation. Supporting rural America and agriculture is deeply embedded in our mission. This collaboration will play a vital role in addressing the critical need for rural appraisers, particularly in areas where gaining that essential experience is often difficult."

The Appraisal Foundation's Role

The Appraisal Foundation stands as the foremost authority on standards and qualifications for the valuation profession in the United States. By impacting legislation and industry standards, the foundation works tirelessly to ensure that appraisals remain independent, consistent, and objective. Its role in driving such initiatives forward is critical as it fosters the profession for current and future appraisers.

As we look to the future, the Rural Appraisal Practicum Model presents an innovative approach that places emphasis on rural property appraisals, ensuring that the next generation of appraisers is equipped with the necessary skills and experience. This exciting partnership is a beacon of hope for aspiring rural appraisers, paving the way for a robust appraisal profession in the years to come.

For more information about how you can support projects like this or explore opportunities to contribute, you can visit The Appraisal Foundation's website.