| Bureau overview | |
|---|---|
| Jurisdiction | California |
| Bureau executive |
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| Parent bureau | California Department of Consumer Affairs |
| Website | www |
The California Bureau of Real Estate Appraisers (BREA) is a division of the California Department of Consumer Affairs responsible for real estate appraiser licensing and certification in California.
The California Real Estate Act has two core components: licensing and enforcement. [1] [2] Both licensing and enforcement functions are required by the Appraisal Subcommittee (ASC), the federal government organization which oversees all state real estate appraiser licensing agencies. [2]
The enforcement unit, operates under a federal mandate, and ensures adherence to the federally required Uniform Standards of Professional Appraisal Practice (USPAP), California law and regulations. [2]
In order to be issued an appraisal license, BREA requires applicants to meet all the criteria established by the Appraisal Qualifications Board (AQB) of the Appraisal Foundation. [3] [4]
Regulations require the application for a real estate appraiser license to include their social security number. [4] Pursuant to SB 237, [5] the licensing Unit also performs background checks on appraisal management companies in order to register them as required. [1]
BREA is responsible for the accreditation of educational courses and providers for real estate appraisers and has reviewed and approved over 1,800 pre-licensing and continuing education courses. [1] In addition to the real estate appraisal related courses offered by the community college, University of California, and California State University systems, over 90 proprietary schools provide appraiser education. [1]
In response to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), the California Legislature enacted the Real Estate Appraisers Licensing and Certification Law in 1990 as an amendment to the Real Estate Law. [1] [6] State regulations are codified at Chapter 6.5, Title 10 of the California Code of Regulations (10 CCR §§ 3500 et seq.), and federal regulations are included in Regulation Y ( 12 CFR 225 ) and Regulation Z ( 12 CFR 226 ).
A new Regulation Z ( 12 CFR 226 ) of the Truth in Lending Act was adopted in 2008 (73 FR 44522) to help prevent the improper influence of appraisers and to reduce the chances that appraisers would be pressured to "hit" certain target property values or return pre-determined, unsupported valuations when appraising real property. [2]
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A real estate agent or real estate broker is a person who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions. Buyers and sellers are generally advised to consult a licensed real estate professional for a written definition of an individual state's laws of agency. Many states require written disclosures to be signed by all parties outlining the duties and obligations.
Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property. Real estate transactions often require appraisals because they occur infrequently and every property is unique, unlike corporate stocks, which are traded daily and are identical. The location also plays a key role in valuation. However, since property cannot change location, it is often the upgrades or improvements to the home that can change its value. Appraisal reports form the basis for mortgage loans, settling estates and divorces, taxation, and so on. Sometimes an appraisal report is used to establish a sale price for a property.
Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate. Management indicates the need for real estate to be cared for and monitored, with accountability for and attention to its useful life and condition. This is much akin to the role of management in any business.
The Truth in Lending Act (TILA) of 1968 is a United States federal law designed to promote the informed use of consumer credit, by requiring disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed.
Gun laws in the United States regulate the sale, possession, and use of firearms and ammunition. State laws vary considerably, and are independent of existing federal firearms laws, although they are sometimes broader or more limited in scope than the federal laws.
A law enforcement officer (LEO), or peace officer in North American English, is a public-sector employee whose duties primarily involve the enforcement of laws. The phrase can include campaign disclosure specialists, local police officers, prosecutors, municipal law enforcement officers, health inspectors, SWAT officers, customs officers, lawyers, state troopers, federal agents, secret agents, special investigators, coast guards, border patrol officers, judges, district attorney, bounty hunters, gendarmerie officers, immigration officers, private investigators, court officers, probation officers, parole officers, arson investigators, auxiliary officers, animal control officers, game wardens, park rangers, county sheriff's deputies, constables, marshals, detention officers, correction officers, sworn campus police officers and public safety officers. Security guards are not law enforcement officers, unless they have been granted powers to enforce particular laws, such as those accredited under a community safety accreditation scheme such as a security police officer.
A Federal Firearms License (FFL) is a license in the United States that enables an individual or a company to engage in a business pertaining to the manufacture or importation of firearms and ammunition, or the interstate and intrastate sale of firearms. Holding an FFL to engage in certain such activities has been a legal requirement within the United States since the enactment of the Gun Control Act of 1968. The FFL is issued by the Bureau of Alcohol, Tobacco, Firearms, and Explosives
The United States Federal Maritime Commission (FMC) is an independent federal agency based in Washington, D.C. that is responsible for the regulation of oceanborne international transportation of the U.S. It is chaired by Daniel B. Maffei.
The Real Estate Settlement Procedures Act (RESPA) was a law passed by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. §§ 2601–2617. The main objective was to protect homeowners by assisting them in becoming better educated while shopping for real estate services, and eliminating kickbacks and referral fees which add unnecessary costs to settlement services. RESPA requires lenders and others involved in mortgage lending to provide borrowers with pertinent and timely disclosures regarding the nature and costs of a real estate settlement process. RESPA was also designed to prohibit potentially abusive practices such as kickbacks and referral fees, the practice of dual tracking, and imposes limitations on the use of escrow accounts.
The Federal Financial Institutions Examination Council (FFIEC) is a formal U.S. government interagency body composed of five banking regulators that is "empowered to prescribe uniform principles, standards, and report forms to promote uniformity in the supervision of financial institutions". It also oversees real estate appraisal in the United States. Its regulations are contained in title 12 of the Code of Federal Regulations.
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s.
The Texas Real Estate Commission(TREC) is the state agency that governs real estate practices in the state of Texas. The agency is headquartered at 1700 North Congress in Austin.
A Comp Check is a request made to a State Licensed or Certified real estate appraiser, sometimes to assure a minimum opinion of value before an order, is placed. Because providing an opinion of value is the definition of an appraisal in the United States, the practice of the look-up, when excess care is not taken, runs a greater risk of being in violation of the Uniform Standards of Professional Appraisal Practice (USPAP) than an assignment with a more thorough Scope of Work.
The Appraisal Foundation (TAF) is the United States organization responsible for setting standards for the real estate valuation profession. The organization sets the congressionally authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. The aim is to ensure appraisals are impartial, objective and independent, are conducted without bias and are performed in an ethical and competent manner.
The California Bureau of Gambling Control is a regulatory agency that is part of the California Department of Justice. It regulates legal gambling activities in California to ensure that gambling is conducted honestly, competitively, and free from criminal and corruptive elements. It is one of two agencies in California regulating gambling, along with the California Gambling Control Commission.
The Division of Commercial Licensing and Regulation is the division of the Rhode Island Department of Business Regulation responsible for the licensing and regulation of real estate agents, brokers and appraisers, auto body & salvage re-builder shops, auto wrecking and salvage yards, travel agencies and travel agents, upholsterers, alarm system installers, auctioneers, liquor wholesalers, breweries, wineries, salespersons and agents, Class G (boat/airline/railroads) license holders, line-cleaners, and mobile and manufactured homes and parks. The enforcement of unit pricing, motor fuel advertising and health club pre-opening laws are also activities of this program.
The California Health and Safety Code is the codification of general statutory law covering the subject areas of health and safety in the state of California. It is one of the 29 California Codes and was originally signed into law by the Governor of California on April 7, 1939.
The Department of Business and Professional Regulation (DBPR) is the agency charged with licensing and regulating more than 1.6 million businesses and professionals in the State of Florida, such as alcohol, beverage & tobacco, barbers/cosmetologists, condominiums, spas, hotels and restaurants, real estate agents and appraisers, and veterinarians, among many other industries. On the Department's website, consumers and licensees can verify licenses, file a complaint against licensed or unlicensed individuals, apply for or renew licenses, search food and lodging inspections, search for or request public records and read about recent department initiatives.
Title 1 of the Code of Federal Regulations, titled General Provisions, is a United States federal government regulation.
The International Right of Way Association (IRWA) is considered the central authority for right of way education and certification programs, as well as professional services, worldwide.