Acting as a Broker.and Appraiser

[The Warrior Monk]

I suggest doing a BPO, CMA, or whatever you want to call it. It's very difficult to claim that you are working as their advocate (broker) and not their advocate (appraiser) at the same time.

 

[Hamlet]

Fred,

I think everyone is saying sell the house and forget about appraising it. Just do a simple CMA. Do a great job on the sale and appraise the one they want to buy!

 

[Couch Potato]

Don't do it.

hahaha.......instead of creating an excel template, word doc., couldn't I just use the old 1004 and DISCLOSE? My software has "appraisal" words everywhere in which I can't delete.

If as a broker you want to provide an opinion of the value to your client as part of your listing effort, why not use a BPO form? Most appraisal software packages have one and it will not mention appraisal anywhere. In that case you would need to be sure the client understands it is not an appraisal. A good way to be sure of that is to not charge anything extra above the commission you earn on the sale.

The advice given by a man who is an appraiser and a real estate attorney in North Carolina was don't try to appraise a house for which you are also a broker in the transaction. If you choose to do so, send me an email when you need the name of the lawyer for your defense.
(If you need an appraisal for your clients, there are several Charlotte area appraisers here who will be glad to do the job.)

 

[Mountain Man]

My software has a CMA form.

Here's I found just by Google-ing.
http://www.mgic.com/pdf/FNMA.pdf

 

[TJSum]

Fred,

I think everyone is saying sell the house and forget about appraising it. Just do a simple CMA. Do a great job on the sale and appraise the one they want to buy!

Hmmm, might be some issues there as well. Suppose the timing on selling their home is contingent on their new purchase...... any bias towards making the purchase work ???

 

[JRS at OBX]

The advice given by a man who is an appraiser and a real estate attorney in North Carolina was don't try to appraise a house for which you are also a broker in the transaction. If you choose to do so, send me an email when you need the name of the lawyer for your defense.

I should really schedule a CE class.

 

[Fred Smith]

Are there any forms in ACI? I found a CMA and BPO.......but both need additional licenses.

 

[Couch Potato]

Are there any forms in ACI? I found a CMA and BPO.......but both need additional licenses.

One more reason never to buy ACI.

 

[JRS at OBX]

Put on that Realtor hat and do it on paper with a pencil and a calculator!!

They'll be really impressed!

 

[Tony V]

Are there any forms in ACI? I found a CMA and BPO.......but both need additional licenses.

Contact Dave at A A, he doesn't get it either...