Appraiser & Real Estate Sales

[ramrcdk]

The disclosure does not apply agents.

Yep, appraiser's now-a-daze have to disclose everything. It would be interesting in what a credit-worthy report reveals of past behavior! ( Do they peek at FB? )
Newer clients have demanded a "credit report" & that's fine with me as long as they spend their dime & time to get'r done. Without one & to date, they'r still using my services.

TO the "Hypothetical POST"( as it turns out ):
Now-a-days, if a past home owner that was a borrower .... calls me to list their house: I would be happy to do a "referral", sometimes with the form that pays me & most of the time NOT. It's Free. AND to say this, I have had past situations where a family or friend of that situation calls me to perform a type of service: HAT depending on the call. I do not think that could ALSO be considered as being possibly BIAS. I think that means I was professional enough to gain ...a good feeling of ...trust.
TO THE: would you do a refi'-purchase Appraisal for a peer in your office? Well, I have been in offices through my career where that WAS done.
Not-so-much would I even entertain the thought.
Gotta think: First AND far most: IS IT WORTH IT? "Everyone is dishonest BEFORE you find them to be honest". Sad world we live in but that's a motto, I tend to think of often.

 

[sputnam]

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.

It's fine if you disclose. If you knew at the time of the appraisal that you were interested in buying, then there could be a problem. You could be accused of manipulating the value to your future benefit.

 

[The Warrior Monk]

Yep, appraiser's now-a-daze have to disclose everything. It would be interesting in what a credit-worthy report reveals of past behavior! ( Do they peek at FB? )

Appraiser's have to disclose prior assignments when acting as an appraiser.

Real estate agents do not have to disclose prior involvement with the property.

If the real estate agent, who is also a currently licensed appraiser, feels that they are obligated to disclosure prior appraisal assignments, IMHO they are clearly wearing two hats, and should refuse the listing.

 

[The Warrior Monk]

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.

The few sales I was involved in at a prior firm for which I was an appraiser typically involved people I knew personally, including family members. So I was never going to appraise these properties anyway. I would also not appraise the properties for the new owner because I won't not be perceived as an unbiased party.

 

[ramrcdk]

Appraiser's have to disclose prior assignments when acting as an appraiser.

Real estate agents do not have to disclose prior involvement with the property.

If the real estate agent, who is also a currently licensed appraiser, feels that they are obligated to disclosure prior appraisal assignments, IMHO they are clearly wearing two hats, and should refuse the listing.

Yes: Since USPAP Compliance Disclosure: " I have NOT performed services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. For the past "3 years" right?

A different HAT: Being a BIC, I would not want an agent wearing BUT a 1-sided Hat, no Dual Agency, be it disclosed or not.

To an end: It is impossible to comply & also wear TWO hats at the SAME time, 3 years respectively. Again, the initial Poster indicated the thread was a "hypothetical".
Be it " impure " thoughts or not!

 

[The Warrior Monk]

Yes: Since USPAP Compliance Disclosure: " I have NOT performed services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. For the past "3 years" right?

What is "this report?"

The person is being engaged as a real estate agent, not as an appraiser. There is no appraisal assignment, and thus no disclosure of prior assignments that are required when acting as an appraiser.

 

[ramrcdk]

What is "this report?"

The person is being engaged as a real estate agent, not as an appraiser. There is no appraisal assignment, and thus no disclosure of prior assignments that are required when acting as an appraiser.

EDIT: Referencing post #10
Actually ... "this report" OR who-ever "they" are... it never actually- really-for real happened. Your scenario , my scenario... Pick one. LOL

 

[The Warrior Monk]

A common example of the fact that license law doesn't apply when not acting as an appraiser pertains to the filing of complaints against other appraisers with the state. Since there is no client and no assignment, the appraiser filing the complaint is not expected to follow USPAP; e.g., a review in compliance with USPAP.

 

[Carnivore]

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.

I really agree with your statement. My best personal and professional attribute is my Honesty and Integrity. I treat people the way I want them to treat me. Sometimes I get snookered ...that's life.

I turn down assignments where I have appraised the same property in the the relative prior time period. (3 years). REO Work was different and I often for the same client AKA FNMA was ask to appraise subject again! That's the only exception. Both parties were eyes wide open.

 

[Bob Ipock]

Appreciate ALL you folks insight. I do not even have a real estate license, but am a novice appraiser so sought out insight from my peers on this topic.

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.

In that case (which was poorly explained in the OP) the answer is no. It would be a definite perceived conflict of interest and bordering on a USPAP violation if not disclosed carefully. I don't believe many brokers in charge folks would allow that.