Effective July 1, 2014, state law directs the Real Estate Appraiser Board to regulate Appraisal Management Companies (AMCs) in Virginia. On May 6, 2014, the Board adopted proposed Final Regulations detailing the definitions, qualifications, fees and standards of practice and conduct for AMCs.
However, Virginia’s licensure program—including applications, forms and enforcement—cannot be implemented until the Board’s Final Regulations are approved by the Governor’s Office. We do not have a timeframe for implementation because there is no deadline for that approval.
Administration and enforcement of the AMC regulatory program will begin shortly after the Final Regulations are approved by the Governor’s Office—you can follow the status on the Regulatory Town Hall.
For more information, contact the Board office at (804) 367-2039 or REAppraisers@dpor.virginia.gov.
please contact us in writing or via telephone and we will work with you to make the information available.