How were appraisers first regulated?

Appraisers were first regulated through self-regulation. In the early history of the appraisal profession, there were no formal regulations or governmental oversight. Instead, appraisers relied on their own professional standards and practices, often guided by the ethics and guidelines set forth by professional associations. This self-regulation allowed appraisers to establish credibility and standards within the profession, albeit without the comprehensive legal framework that later emerged.

Self-regulation was essential in the development of appraisals, promoting accountability among practitioners while enabling the industry to evolve based on peer evaluations and voluntary adherence to established norms. As the need for more structured quality assurance and public trust grew, this approach laid the groundwork for future regulatory measures, including mandatory licensing and government oversight that emerged later to standardize the industry further. The progression from self-regulation to more formal regulatory frameworks illustrates the evolution of the profession and the increasing importance of consumer protection in the appraisal process.