Appraisal Practice Without A License

[Eli]

Is anybody performing appraisal practice without a license?

 

[Terrel L. Shields]

Is anybody performing appraisal practice without a license?

Yes, lots of people are appraisers and do not have a license. Why not? Personal property appraisers do not need a license. One of my old teachers dropped his license years ago and testifies in court routinely in condemnation cases. No license is required in that state. There are no laws in most states requiring you to license unless you are doing working on Federally Related Transactions, or at least working on real estate. In my state, we have the Registered Appraiser classification which simply registers you without any need to take a course or have experience hours. and an RA can appraise anything but an FRT. They simply have to include that statement in their report, they have no USPAP requirement.

Evaluators are not necessarily licensed either.

 

[Eli]

That is not legal in some states.

 

[Terrel L. Shields]

That is not legal in some states.

Show me a state that regulates marine surveyors, art appraisers, antique appraisers, or does not allow a real estate agent to do a CMA.

 

[Eli]

Show me a state that regulates marine surveyors, art appraisers, antique appraisers, or does not allow a real estate agent to do a CMA.

In TN, don't call it an appraisal if it is real property if you are not licensed.

I'll turn them in.

Therein would also be delimma for some performing appraisal practice on real property without a license.

 

[djd09]

CU?

 

[RSW]

Show me a state that regulates marine surveyors, art appraisers, antique appraisers, or does not allow a real estate agent to do a CMA.

TN does not allow for an agent to do a CMA or BPO and be paid for it. The only time they are allowed is when they are providing a service in order to get a potential listing.

 

[Terrel L. Shields]

TN does not allow for an agent to do a CMA or BPO and be paid for it. The only time they are allowed is when they are providing a service in order to get a potential listing.

Do they regulate evaluators? Marine surveyors? etc.?

 

[Eli]

Do they regulate evaluators? Marine surveyors? etc.?

Idk. I am not licensed to do any of those here but probably yes from a "business" standpoint. My opinion would be based on accountability and liability from a business standpoint.

 

[Eli]

TN does not allow for an agent to do a CMA or BPO and be paid for it. The only time they are allowed is when they are providing a service in order to get a potential listing.

^^^^