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Michigan Appraisal Board

Michigan Board of Real Estate Appraisers is the authorized agency of the state for licensure and regulation of real estate appraisers. It was created in the year 1991 after the enactment of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 by the federal government. The Act made it compulsory for each state to monitor appraisal practices and license real estate appraisers. However, not all real estate appraisers are required to have licenses issued by the Michigan Appraisal Board. Those MI appraisers who work in association with licensed brokers or real estate agents and do not involve in federally related transactions are exempted from the real estate appraisal licensure.

According to Michigan law, a real estate appraiser is an individual who offers services to develop and communicate appraisals of real property. The law further provides an explanation to the term 'Appraisal' and defines it as the conclusion, analysis or opinion of the appraisers regarding the value of a real property.

As there are many industries that require accurate assessment of real property in order to functions properly, the importance of Michigan real estate appraisers can easily be seen. Moreover, the profitability of such businesses depend much on the performance and integrity of appraisers involved in them.

Michigan Real Estate Appraiser License

The Michigan State Board of Real Estate Appraisers takes into account the ability and integrity of appraisers while issuing them licenses or certifications. Thus, a license from the board not only ensure the consumers of the skill and honesty of the licensed appraisers they are hiring, but also help appraisers expand customer base. The Michigan Appraisal Board has several types of licensure to offer. For example, you can be licensed as a limited appraiser, certified residential appraiser, state licensed real estate appraiser or certified general real estate appraiser.

MI Real Estate Appraisal Board

The Michigan Real Estate Appraisal Board is a division under the Department of Labor and Economic Growth (DLEG). The board oversees the real estate practices in the state in cooperation with the Michigan Bureau of Commercial Services. Among the members of the Michigan Appraisal Board, six are real estate appraisers and three are appointed from the general public.

Find more on the services rendered by the Michigan State Board of Real Estate Appraisers by contacting DLEG officials.

Bureau of Commercial Services
Licensing Division
PO Box 30018
Lansing, MI 48909
Website: http://www.michigan.gov/dleg/


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