Which organizations maintain USPAP standards?

The correct answer is the organization responsible for maintaining the Uniform Standards of Professional Appraisal Practice (USPAP), which is The Appraisal Foundation. This foundation serves as the authoritative body that establishes and promotes high standards of appraisal practice and ethics in the United States. USPAP is crucial for ensuring a consistent and reliable framework for appraisers to follow, which in turn promotes trust and credibility in the appraisal profession.

This organization not only maintains the standards but also provides the necessary support and education to appraisers to ensure compliance. Established in 1987, The Appraisal Foundation plays a vital role in the appraisal industry by updating USPAP as the industry evolves, ensuring that it meets the changing needs of both the profession and the marketplace.

While other organizations, like the Appraisal Institute and the National Association of Realtors, contribute to the education and support of appraisers, and may have their own standards or guidelines, they do not hold the overarching responsibility for maintaining USPAP itself. The Real Estate Valuation Standards Board also does not have this authority, as it operates under different frameworks when it comes to real estate valuation.