WI SB543

Removes the requirement that real estate appraiser license applicants be at least 18 years old

Increases the commercial real estate transaction value limit for certified residential appraisers from $250,000 to $500,000

Exempts appraisal management companies (AMCs) that are subsidiaries owned and controlled by federally regulated financial institutions from state AMC licensing requirements

Eliminates the 60-day window during which licensed AMCs could remove independent appraisers from their panels without notice

Removes obsolete transitional licensure provisions and updates terminology from "reciprocal" to "reciprocity" agreements for out-of-state appraiser certification