Which board is responsible for voluntary guidance in appraisal practices?

The Appraisal Practices Board (APB) is the entity responsible for providing voluntary guidance in appraisal practices. It plays a crucial role in developing and issuing best practices, recommended guidelines, and advisory opinions that appraisers can consider when conducting their work. This guidance is not mandatory but is intended to help improve the quality and consistency of appraisal practices across the industry.

While other boards have significant roles in establishing standards and regulations, the APB specifically focuses on offering practical insights and direction to appraisers, facilitating their adherence to quality practices without imposing requirements. This distinction highlights the APB’s commitment to promoting sound appraisal practices voluntarily.