An Act To Change The Laws Regarding Real Estate Appraisers

This bill changes Maine's licensing rules for residential real estate appraisers. It requires the Board of Real Estate Appraisers to include two banking industry representatives and specific licensed appraisers (including one certified general and one residential license holder). The bill also increases the transaction value limit for appraisers: complex residential properties (1-4 units) can now be appraised up to $400,000 (previously $250,000), while noncomplex properties remain at $1 million. These changes directly affect licensed residential appraisers and the board members who oversee their qualifications.