The Appraisal Foundation, Farm Credit System Collaborate to Build Rural Appraisal Practicum Model

WASHINGTON, Jan. 6, 2025 /PRNewswire/ -- The Appraisal Foundation today announced a new joint venture with the Farm Credit System to create a Rural Appraisal Practicum Model. This project will provide a framework to address the challenges aspiring rural appraisers face in gaining their required appraisal experience. This initiative will create a structured, hands-on model tailored to rural and agricultural property appraisals, providing an example that can be used to set up a practicum course that meets the required experience needs of aspiring appraisers.

This project began after the Farm Credit System became a contributor and commissioned the Foundation to complete this work.

"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," said The Appraisal Foundation President Kelly Davids. "The Appraisal Foundation has a big vision for 2025 and beyond to enact projects that advance appraisers into the future. But we cannot do it alone. We are so appreciative of the Farm Credit System's shared commitment to these goals, and I am delighted that they are putting that commitment into action through this joint venture."

"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," said 2025 Board of Trustees Chair Ray Wagester. "The Farm Credit System is blazing a trail for future organizations who share these goals to open new pathways for aspiring appraisers to work with the Foundation and support their mission of public trust."

The Farm Credit System released the following statement: "We in the Farm Credit System are extremely excited about the collaboration with The Appraisal Foundation. The Farm Credit System is deeply committed to supporting rural America and agriculture. There is a critical need for rural appraisers, especially in these rural areas where gaining experience can often be difficult or nearly impossible. This collaboration and partnership will play a vital role in addressing that gap. Subject matter experts (SMEs) from across the country have joined forces with members of the Appraiser Qualifications Board (AQB) to help structure this practicum model. This year-long initiative aims to produce a comprehensive framework that individuals or organizations can use to formally establish a rural-based appraisal practicum."

To learn more about opportunities to contribute and commission the Foundation for projects like this, check out the Foundation Services webpage.

Background: The Appraisal Foundation is the nation's foremost authority on the valuation profession. The organization sets the Congressionally-authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. This work advances the profession by ensuring appraisals are independent, consistent, and objective. More information on The Appraisal Foundation is available at www.appraisalfoundation.org.

Media Contact:
Amy Kaufman
Director of Communications
The Appraisal Foundation
[email protected]
direct phone 202.624.3048

SOURCE The Appraisal Foundation