Appraiser & Real Estate Sales

[The Warrior Monk]

What is your opinion on appraising a property for sale that is listed in the same office you hang your real estate license? Ok or not ok?

Again this is a hypothetical as I do not even possess a real estate agent license. Thanks.

This is a definite no go.

The reason is that there is only one principal broker (by law) in an office, and all other agents (brokers and salespersons) are working under that broker. So if that broker holds your license, you would be appraising a property that your principal broker that you work for has sold. I actually worked in an office that also did sales, and the appraisers avoided this issue completely. Now I have my license at another office, outside of my main work area, to avoid this situation entirely.

 

[glenn walker]

As the great Richard Tong once told me - You can't get a little bit pregnant and a hard-D has no conscience. SO if you have to ask you probably altready know the answer to your question. When in doubt just say no

 

[Elliott]

Hylo asked,
What is your opinion on appraising a property for sale that is listed in the same office you hang your real estate license? Ok or not ok?

I'd say, not ok. It has the appearance of a potential bias. "Maybe he appraised it out because he works in the same office and he didn't want to pizz off his broker.."

 

[George Hatch]

It takes a long time to build a professional reputation, and almost no time to lose it over a poor decision.

Always put your reputation first.

 

[Bob Ipock]

The disclosure does not apply agents.

It can apply if the appraiser/agent wants it to apply. Tell the truth....no big deal. I will not matter to anyone.

 

[The Warrior Monk]

It can apply if the appraiser/agent wants it to apply. Tell the truth....no big deal. I will not matter to anyone.

IMHO, if someone is representing themselves as an appraiser/agent, they shouldn't be taking the listing in the first place.

 

[Bob Ipock]

Is it a violation or conflict of interest if a certified appraiser sells a property he/she appraised in the past if the appraiser discloses the prior appraisal in the listing agreement and to the seller? Thank you.
I took the message to mean that an appraiser who is also an agent and has appraised a property IN THE PAST is asking if he/she NOW, acting as a listing agent needs to disclose IN THE LISTING agreement to the SELLER that he/she listing agent sometime in the past wearing his/her appraisal hat should disclose this appraisal prepared in the past. I say no, it would not be required and YES it should be disclosed. This is not about an appraiser appraising and listing or selling the same property sat the same time. The appraisal was done in THE PAST. I see no conflict on taking the listing but I would disclose .

 

[Mr Rex]

How hard up for money are you? You asked, so at least you have a sorta sense of ethics. Otherwise, why would you slow down and ask? Peanut butter sandwiches, beans and rice are better than someone, anyone questioning my ethics. YMMV.

 

[George Hatch]

Some of the appraisers I know who also sell separate their practices to the extent that if they sell homes then they don't appraise homes. If they sell industrials they don't appraise industrials.

 

[Hylopeeko]

How hard up for money are you? You asked, so at least you have a sorta sense of ethics. Otherwise, why would you slow down and ask? Peanut butter sandwiches, beans and rice are better than someone, anyone questioning my ethics. YMMV.

How hard up for money are you? You asked, so at least you have a sorta sense of ethics. Otherwise, why would you slow down and ask? Peanut butter sandwiches, beans and rice are better than someone, anyone questioning my ethics. YMMV.

Easy there Rex, go fetch a bone. Simply asking my peers for their insight. Not interested in you personally judging my ethics. However, I am tremendously interested in what my peers would do in such a situation. As I mentioned in previous post, "I am a novice appraiser". I always leave my ego at the door. I do not even have a real estate license. My thread was purely a hypothetical. And yes I love money! Not ashamed of that at all.