Florida Real Estate Appraisal Board Disciplinary Activity Report
Real estate appraisal is a critical process that determines the value of a property. It is a complex process that requires knowledge, skills, and experience to execute effectively. In Florida, the Real Estate Appraisal Board (REAB) is responsible for regulating the appraisal industry to ensure that appraisers provide unbiased and accurate appraisal reports.
What is the Florida Real Estate Appraisal Board?
The Florida Real Estate Appraisal Board (REAB) is a regulatory agency that oversees the appraisal industry in Florida. The board was created in 1991 to protect the public by ensuring that real estate appraisers are qualified and provide accurate appraisal reports.
The board is made up of seven members appointed by the governor of Florida. The members of the board are required to have experience in the appraisal industry, and they are responsible for enforcing the rules and regulations that govern the industry.
Disciplinary Activities of the Florida Real Estate Appraisal Board
The Florida Real Estate Appraisal Board is responsible for investigating complaints against appraisers and taking disciplinary action when necessary. The board has the authority to impose fines, revoke licenses, and take other disciplinary actions against appraisers who violate the rules and regulations of the industry.
The board publishes disciplinary activity reports that provide information about the actions taken against appraisers in Florida. These reports are available to the public and can be accessed on the board's website.
Types of Disciplinary Actions
The Florida Real Estate Appraisal Board has the authority to take several disciplinary actions against appraisers who violate the rules and regulations of the industry. Some of the most common disciplinary actions include:
- Fines – The board can impose fines on appraisers who violate the rules and regulations of the industry. The amount of the fine depends on the severity of the violation.
- License Suspension – The board can suspend the license of an appraiser who violates the rules and regulations of the industry. The suspension can be for a specific period or indefinite.
- License Revocation – The board can revoke the license of an appraiser who violates the rules and regulations of the industry. This means that the appraiser can no longer practice in Florida.
- Probation – The board can put an appraiser on probation if they violate the rules and regulations of the industry. This means that the appraiser must comply with certain conditions or face further disciplinary action.
Recent Disciplinary Activity Report
The Florida Real Estate Appraisal Board publishes a disciplinary activity report each year that provides information about the actions taken against appraisers in Florida. The most recent report covers the period from July 1, 2020, to June 30, 2021.
According to the report, the board investigated 441 complaints during the period and took disciplinary action against 116 appraisers. The most common violations were related to competency and ethics.
Conclusion
The Florida Real Estate Appraisal Board plays a critical role in regulating the appraisal industry in Florida. The board investigates complaints against appraisers and takes disciplinary action when necessary to protect the public. Appraisers in Florida must comply with the rules and regulations of the industry to avoid disciplinary action by the board.