New Jersey bill aims to eliminate bias in real estate appraisals
Trenton, New Jersey—To combat discrimination in real estate appraisals, New Jersey Sens. Nellie Poe and M. Teresa Ruiz have introduced S1311, a bill that would require anti-bias training for real estate appraisers. This bill aims to supplement and amend existing law to strengthen the prohibition on discriminatory practices in the appraisal process.
The bill, prefiled for the 2024 legislative session, was sponsored by Sen. Poe, whose 35th district covers Bergen and Passaic counties, and Sen. Lewis, whose 29th district includes Essex and Hudson counties. . Sens. Singleton, Johnson, and McKnight have also proposed it.
According to the proposed bill, licensed appraisers may not consider race, color, religion, sex or other discriminatory categories in their appraisal analysis, including bias against both current and future owners or occupants, and those residing in neighboring properties.
Bill S1311 would require real estate appraisers to certify that they have completed continuing education requirements to renew their license, which currently includes a fair certification approved by the Appraisal Foundation’s Commission on Appraisal Credentials. Includes comprehensive housing and appraisal bias education courses.
The law is scheduled to go into effect 180 days after its enactment. This legislative action represents an important step toward ensuring equity in real estate practices and strengthens New Jersey’s commitment to housing equity.
