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Appraisal services on website

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bobbyo

Freshman Member
Joined
Jul 7, 2008
Professional Status
Certified Residential Appraiser
State
South Carolina
Need some feedback. I am a CR appraiser. Not really interested in Commercial. I am setting up a website and would like to offer Commercial appraisals in which I will subcontract out to a local CG. I have been doing this informally for many years anyway. Might get a small cut from the CG for drumming up the business. The CG does not have a website and doesn't have any desire to get one. Checked with the state LLR and they said no problem. Does anyone have any comments on this type set up or are any of you doing the same ?? Thanks ....
 
I did a quite a bit of surfing last night at several appraiser listing websites. The number of cert residentials who are listing COMMERCIAL on the websites really surprised me.

Are that many doing commercial illegially, or they passing them on?

From what I see, most good certified general appraisers don't have much need to have someone else feed them leads for a part of the fee.

I can't give you an answer, but don't bother sending me any, Thanks.

Wayne Tomlinson
 
Instead of getting a small cut from the CG, why not simply refer people to him/her? I would hope that the CG would do the same for you with residential work. I am a CG but don't generally tackle large commercial assignments. I refer them to a friend who is an MAI and in return he sends work to me.
 
Well, to start with CR's doing commercial is not illeagal. The CR license allows commercial with no restrictions if federal funding is not allowed. There is a dollar limit if federal funding is involved. So legallity is not an issue. For many years, I have and still do refer all commercial to the CG. But with a website, phone listing, etc. I do have cost involved and he just offered to share in some of this cost with a small cut. We try to keep local work with local appraisers. Seems to be a problem here with appraisers 200 miles away doing our local work. Now that may be a violation since it is very unlikely that they "know" our market. Don't worry Wayne, I won't send you any....
 
The CR license allows commercial with no restrictions if federal funding is not allowed. There is a dollar limit if federal funding is involved.

Are you sure about this statement?

You say you want to offer commercial work via a subcontract. Does that indicate you are signing and taking responsibility for the report, or is more like a referral system.

From a business standpoint, I can't see why this would benefit you to advertise for work you can't complete and put your reputation in the hands of another.
 
First of all, welcome.

This was the best I could come up with quickly, but here is a form for SC appraisers authorized tasks--in regard to federally regulated transactions.

I think "nonfed" you can do what you want. But I am seeking to verify that as we speak.
 

Attachments

Ahhh, here it is

Taken from the SC Real Estate Appraisers Act... See Paragraph 27

(14) “Market analysis” means a study of real estate market conditions for a specific type of property.
(15) “Mass appraisal” means the process of valuing a universe of properties as of a given date using standard methodology, employing common data, and allowing for statistical testing.
(16) “Mass appraiser” means any appraiser who is employed in the office of a tax assessor to appraise real property for ad valorem tax purposes and who is licensed or certified as a mass appraiser.
(17) “Noncomplex residential property appraisal” means one in which the property to be appraised, the form of ownership, and market conditions are those which are typically found in the subject market.
(18) “Person” means an individual, corporation, partnership, or association, foreign and domestic.
(19) “Real estate” means an identified parcel or tract of land including improvements, if any.
(20) “Real estate appraisal activity” means the act or process of valuing real estate or real property and preparing an appraisal report.
(21) “Real property” means the interests, benefits, and rights inherent in the ownership of real estate.
(22) “Residential appraisal” is an appraisal of a vacant or improved parcel of land that is devoted to or available for use as a one to four family abode including, but not limited to, a single family home, apartment, or rooming house.
(23) “Specialized services” means services other than independent appraisal assignments which are performed by an appraiser. Specialized services may include marketing studies, financing studies, and feasibility studies, valuations, analyses, opinions, and conclusions given in connection with activities including, but not limited to, real estate brokerage, mortgage banking, real estate counseling, and real estate tax counseling.
(24) “Standards of professional appraisal practice”or “ USPAP” means the National Uniform Standards of Professional Appraisal Practice as adopted by the Appraisal Standards Board of the Appraisal Foundation and adopted by the board.
(25) “State certified general appraiser” means an appraiser authorized to engage in the appraisal of all types of real property.
(26) “State certified general mass appraiser” means an appraiser authorized to engage in all types of real estate mass appraisal activity for ad valorem purposes.
(27) “State certified residential appraiser” means an appraiser authorized to engage in the appraisal of one to four residential units without regard to transaction value or complexity and nonresidential appraisals with a transaction value less than two hundred fifty thousand dollars.
(28) “State certified residential mass appraiser” means an appraiser authorized to engage in the mass appraisal of one to four residential units without regard to value or complexity and nonresidential appraisals with a transaction value less than two hundred fifty thousand dollars.
(29) “State licensed appraiser” means an appraiser authorized to engage in the appraisal of noncomplex one to four residential units having a transaction value less than one million dollars and complex one to four residential units and nonresidential appraisals having a transaction value less than two hundred fifty thousand dollars.
(30) “State licensed mass appraiser” means an appraiser authorized to engage in the mass appraisal of noncomplex one to four residential units having a transaction value less than one million dollars and complex one to four residential units and nonresidential appraisals having a transaction value less than two hundred fifty thousand dollars.
(31) “Timberland” means forestland that is producing or is capable of producing timber as a crop.
(32) “Valuation” means an estimate of the value of real estate or real property.

SECTION 40‑60‑30. License requirement; exceptions.

It is unlawful for an individual to assume or use a title, designation, or abbreviation likely to create the impression that the person is a real estate appraiser or to engage in appraisal activity or advertise as an appraiser without a valid license issued by the department. However, nothing in this chapter may be construed to apply to:
 
Well, to start with CR's doing commercial is not illeagal. The CR license allows commercial with no restrictions if federal funding is not allowed. There is a dollar limit if federal funding is involved. So legallity is not an issue....................

I find it hard to believe that a CR can appraise any commercial property that is not involved in federal funding. Most CG work I do does not involve financing. I doubt a state board would be happy with a CR appraising a shopping mall for example.
 
My info was given to me by the Compliance Officer with the Appraisal Board. In fact he said that he hated to see CR's not doing commercial work just because of not having a CG license. Of course, the competency issue still has to be complied with......My point is that my info is coming straight from the horse's mouth....
 
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