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A business qualifies as an appraisal management company under the size test if it runs a panel of at least 16 appraisers in one state, or at least 25 across 2 or more states, within a 12-month period, which means the calendar year unless the deputy director sets a different period by rule.
Official title: appraisal management companies; definition
- September 12, 2026
What changes
BeforeThe size test was based on administering an appraiser panel of at least 16 state-licensed or state-certified appraisers in one state, or at least 25 in at least 2 states, who perform appraisal services in Arizona, with no time period stated.
NowThe same panel sizes now count only if they are reached within a 12-month period.
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NowA "12-month period" means the calendar year, unless the deputy director sets a different 12-month period in rule.
Who it affects
- Businesses that manage panels of real estate appraisers for clients
- State-licensed and state-certified appraisers who work as independent contractors on these panels
- Clients such as lenders that hire appraisal management companies
- The deputy director, who may set a different 12-month period by rule
What you need to do
Nothing.
What the law doesn't answer
- How appraisers are counted within the 12-month period, such as at one time or added up over the year
- Whether the deputy director has set or plans to set a different 12-month period
- What a business must do if it meets or falls below the panel size during a year
- Why the time period was added
This summary describes the law as enacted. Later laws, court rulings or referendum petitions can change the picture. Check the official text for the current wording.