Based on the report prepared under Section 1103.455, the board may:
(1) order further investigation of the complaint;
(2) permit the appraiser or appraiser trainee who is the subject of the complaint to participate in a voluntary discussion of the facts and circumstances of the alleged violation;
(3) determine that there is not probable cause to believe that a violation occurred and dismiss the case; or
(4) determine that there is probable cause to believe that a violation occurred and proceed as the complainant with a contested case hearing under Subchapter K.