What is required by the New Mexico Real Estate Appraisers Act to protect consumers?

The requirement for appraisers to have a state license is fundamental under the New Mexico Real Estate Appraisers Act, which is designed to ensure that consumers are protected by having qualified professionals conducting property appraisals. This licensing process verifies that appraisers meet specific standards of education and experience and adhere to ethical guidelines. By requiring a state license, the legislation establishes a baseline of competence and accountability, assuring consumers that the appraiser is knowledgeable about the market and the appraisal process.

While continuing education requirements and a minimum number of appraisals may also contribute to maintaining professional standards, the core protective measure for consumers is the licensing process. This ensures that only those who have met rigorous training and examinations can carry out appraisals, which is crucial for the integrity of the real estate market. Therefore, licensing serves as the primary safeguard that upholds professional standards and protects the interests of consumers in real estate transactions.