DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS
DIRECTOR’S OFFICE
REAL ESTATE APPRAISERS - GENERAL RULES
Filed with the secretary of state on April 27, 2023
These rules take effect immediately upon filing with the secretary of state unless adopted
under section 33, 44, or 45a(9) of the administrative procedures act of 1969, 1969 PA
306, MCL 24.233, 24.244, or 24.245a. Rules adopted under these sections become
effective 7 days after filing with the secretary of state.
(By authority conferred on the Michigan board of real estate appraisers by section 308 of
the occupational code, 1980 PA 299, MCL 339.308; and on the director of the
department of licensing and regulatory affairs by sections 202, 205, 210, 2601, 2605, and
2617 of the occupational code, 1980 PA 299, MCL 339.202, 339.205, 339.210, 339.2601,
339.2605, and 339.2617; and Executive Reorganization Order Nos. 1991-9, 1996-2,
2003-1, 2008-4, and 2011-4, MCL 338.3501, 445.2001, 445.2011, 445.2025, and
445.2030)
R 339.23101, R 339.23203, R 339.23303, R 339.23307, R 339.23309, R 339.23315
R 339.23317, and R 339.23321 of the Michigan Administrative Code are amended, as
follows:
PART 1. GENERAL PROVISIONS
R 339.23101 Definitions.
Rule 101. (1) As used in these rules:
(a) “Board” means the Michigan board of real estate appraisers created under section
2603 of the code, MCL 339.2603.
(b) “Code” means the occupational code, 1980 PA 299, MCL 339.101 to 339.2677.
(c) "Transaction value" means either of the following:
(i) For loans or other extensions of credit, or for sales, leases, purchases, and
investments, or in exchanges of real property, the market value of the real property
interest involved.
(ii) For the pooling of loans or interests in real property for resale or purchase, the
amount of the loan or market value of the real property calculated with respect to each
loan or interest in real property.
(2) A term defined in articles 1 to 6 and 26 of the code, MCL 339.101 to 339.606 and
339.2601 to 339.2637, has the same meaning when used in these rules.
PART 2. LICENSING
R 339.23203 Appraisal experience for licensure; satisfactory evidence.
May 16, 2022