Minnesota Agencies

The board shall advise, provide input, and suggest best practices to the commissioner regarding real estate appraisers, including, but not limited to, licensing, public disciplinary matters, continuing education, and industry-related trends.

The commissioner of commerce shall make the first appointments to the Real Estate Appraisal Advisory Board by September 1, 2018. The commissioner of commerce shall convene the first meeting of the Real Estate Appraisal Advisory Board under Minnesota Statutes, section 82B.073, by November 1, 2018. All other meetings shall be convened in accordance with Minnesota Statutes, section 82B.073, subdivision 4.

The commissioner shall provide a quarterly report to the board that includes a summarized list of: appraisal courses and seminars that were not approved for continuing education credit and the reason for the denial; and public disciplinary actions taken by the commissioner against a real estate appraiser.

The board expires January 1, 2030.

The board is composed of seven persons appointed by the commissioner of commerce. Members are appointed to the board subject to the following conditions:

• members must currently be, and have been for the past five years, residents of this state;
• the membership of the board must reasonably reflect the geographic distribution of the population of this state;
• one member must be currently licensed as, and have been actively engaged and in good standing for the past five years as, a certified general real property appraiser;
• two members must be currently licensed as, and have been actively engaged and in good standing for the past five years as, a certified residential real property appraiser;
• one member must be currently licensed as, and have been actively engaged and in good standing for the past five years as, a real estate appraiser and as a real estate broker or salesperson under chapter 82;
• one member must represent appraisal management companies, as defined in section 82C.02, subdivision 4, as evidenced by the member's employment with an appraisal management company;
• one member must represent the interests of the general public and have knowledge of the real estate business;
• and the commissioner must be a member.

The terms, compensation, and removal of members, other than the commissioner, are governed by section 15.059. Members are limited to serving two full terms on the board. The board shall, annually at the first meeting of the calendar year, elect a chair from its members. The chair shall preside over the meetings and shall coordinate with the commissioner in developing and distributing an agenda for each meeting.