The appraisal profession has historically been very fragmented. Rather than just one national organization representing a majority of appraisers, there have been many professional associations established based on appraisal discipline (real estate, personal property, business valuation, etc.) or geographic area. Accordingly, the qualifications to earn appraisal designations varied considerably.
In the late 1 970s, eight leading appraisal organizations from the U.S. and Canada began to conduct meetings to establish more commonalities in appraising. This group, known as the North American Conference of Appraisal Organizations (NACAO), held annual meetings for a decade to develop common standards and qualifications. In November1987, these organizations created The Appraisal Foundation, whose primary mission is to promote professionalism in appraising through file establishment of standards and qualifications.
