Who is responsible for developing the Uniform Standards of Professional Appraisal Practice (USPAP)?

The responsibility for developing the Uniform Standards of Professional Appraisal Practice (USPAP) lies with the Appraisal Standards Board. This board is part of the Appraisal Foundation, which was established to set standards for appraisals and to promote professionalism within the industry. USPAP provides a framework for the ethical and competent practice of appraising, ensuring that appraisers maintain consistency and integrity in their work.

The Appraisal Standards Board's role is critical, as it involves the ongoing review and revision of USPAP to keep pace with changes in the market and appraisal practices. Therefore, appraisers and appraisal organizations refer to USPAP to guide their valuations and to maintain compliance with national standards.

Other options like the Appraisal Regulatory Committee, the National Association of Realtors, and State Licensing Boards have different roles and responsibilities within the real estate and appraisal sectors. While they may influence policy or provide oversight, they do not directly establish the USPAP standards.