Or. Admin. Code § 161-025-0025 - Supervising Appraiser (SA)
To supervise Registered
(1) Supervisory appraisers
may not supervise more than three (3) registered appraiser assistants at one
time.
(2) The supervising appraiser
shall be responsible for the training, guidance and direct supervision of the
appraiser assistant , including accepting responsibility for the appraisal by
signing and certifying the appraisal complies with USPAP , reviewing and signing
the appraiser assistant experience appraisal reports, and personally inspecting
each appraised property with the appraiser assistant until the supervisory
appraiser determines the appraiser assistant is competent to inspect the
property, in accordance with the COMPETENCY RULE of USPAP for the property type
and all applicable appraisal laws and rules.
(3) The Supervising Appraiser must ensure
that the appraiser assistant gains sufficient knowledge, skills and abilities
that will enable the appraiser assistant to do all of the following:
(a) Define the appraisal problem.
(A) Identify and locate the real
estate ;
(B) Identify the property
rights to be valued;
(C) Identify
the use of the appraisal
(D) Define
value(s) to be estimated;
(E)
Establish date(s) of value estimate(s);
(F) Identify and describe the scope of the
appraisal ; and
(G) Identify and
describe limiting conditions or other limitations.
(b) Conduct preliminary analysis, select and
collect applicable data.
(A) Identify general
data (regional, city and neighborhood) including social, economic, governmental
and environmental factors; and
(B)
Identify specific data (subject and comparables) including site and
improvement, cost and depreciation, income/expense and capitalization rate,
history of ownership and use of property; and
(C) Identify competitive supply and demand
factors (the subject market) including inventory of competitive properties,
sales and listings, vacancies and offerings, absorption rates, demand
studies.
(c) Conduct an
analysis of the subject property which includes:
(A) Site/improvements;
(B) Size;
(C) Costs;
(D) Elements of comparison; and
(E) Units of comparison.
(d) Conduct highest and best use analysis
(specified in terms of use, time and market participants) including:
(A) Land as if vacant and available;
and
(B) Property as improved
(existing or proposed).
(e) Estimate land value, including on-site
improvements.
(f) Estimate value of
the property using each of the three approaches to value - cost, sales
comparison and income capitalization.
(g) Reconcile each value indication and
reconcile the approaches to arrive at a final value estimate.
(h) Report estimate(s) of value(s) as defined
for the assignment.
(4)
Review each appraisal report the appraiser assistant participates in preparing
to ensure accuracy and reliability;
(5) Ensure that the appraisal report includes
proper disclosure regarding the inspection of the subject and the comparable
sales as required by OAR 161-025-0060(3).
(6) Make a clear and prominent disclosure of
real estate appraisal assistance in each appraisal report by identifying each
individual category of experience that the appraiser assistant provided as
outlined in OAR 161-025-0025(3)(a) through (h); and
(7) Accept responsibility for the appraisal
report by signing and certifying that the report has been prepared in
compliance with USPAP .
(8) Ensure
that the appraiser assistant will be granted experience credit by doing the
following:
(a) Verify that the appraiser
assistant is currently registered with the Board . Experience gained prior to
registration or after a registration has lapsed will not be credited toward the
experience hours required to become licensed or certified.
(b) Jointly maintain the appraisal experience
log with the appraiser assistant to ensure the log is accurate, current and
complies with Oregon Administrative Rules. At a minimum, the appraisal log
reporting requirements shall include:
(A) Type
of property; and
(B) Date of
Report; and
(C) Address of
appraised property; and
(D)
Description of work performed by the appraiser assistant and the scope of the
review and supervision of the Supervisory Appraiser ; and
(E) Number of actual work hours by the
appraiser assistant on the assignment; and
(F) The signature and state certification
number of the supervisory appraiser .
(c) Maintain a separate experience log for
each appraiser assistant who contributes to an assignment.
(d) Review the log on a monthly basis to
ensure the appraiser assistant signs the log and maintains the ongoing log for
any future application.
(e) Allow
the appraiser assistant to obtain copies of any appraisal reports and
associated supporting documentation on which they provided
assistance.
Notes
Statutory/Other Authority: ORS 674.305(8) & 674.310
Statutes/Other Implemented: ORS 674
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