NAR Comments on Increased Clarity of Appraiser Guidance While Using AI

The Appraisal Foundation released a second exposure draft of its Proposed Advisory Opinion 41, which seeks to provide guidance to appraisers using advanced technological tools such as artificial intelligence in the appraisal process. 

NAR identified potential confusing language in the original draft and issued a comment letter praising the increased clarity provided in the second draft. 

NAR is committed to maintaining the success of the appraisal profession and preserving access to homeownership and is encouraged by the ASB’s proposal to add guidance on USPAP adherence while using rapidly evolving technological tools. The added clarity in the second exposure draft helps ensure that appraiser responsibilities are understood.

Read NAR's comment letter to the Appraisal Foundation.