NAC645C.405. Determination of unprofessional conduct or professional incompetence of licensed or certified appraiser or registered intern.

In determining whether a licensed or certified appraiser or registered intern is guilty of unprofessional conduct or professional incompetence, the Commission will consider, among other things, whether the appraiser or intern:

     1. Has failed to prepare an appraisal in compliance with the USPAP;

     2. Has done his or her utmost to protect the public against fraud, misrepresentation or unethical practices related to real estate or appraisals;

     3. Has ascertained all pertinent facts that may be reasonably ascertained concerning any property for which he or she prepares an appraisal;

     4. Has attempted to make an appraisal of any property outside of his or her field of experience or competence without the assistance of a qualified authority, unless the facts of his or her lack of experience or competence are fully disclosed in writing to his or her client;

     5. Has adequately documented any required disclosures of his or her interest in any property with which the appraiser or intern is dealing;

     6. Has kept informed of current statutes and regulations governing appraisals, real estate, time shares and related fields in which he or she provides appraisal services;

     7. Properly applies federal and state laws governing the protection of customers;

     8. Has acquired knowledge of all material facts that are reasonably ascertainable and are of customary or express concern and has conveyed that knowledge to his or her client; and

     9. Has completed an appraisal assignment for an appraisal management company that is not registered in this State with the knowledge that the appraisal management company is not registered in this State.

     (Added to NAC by Comm’n of Appraisers of Real Estate, eff. 1-26-90; A 11-19-91; R017-98, 10-23-98; R100-03, 1-30-2004; R158-05, 9-18-2006; R091-09, 4-20-2010)