Can a licensed residential appraiser sign a report the same way that a trainee does?

[zaclan]

Quick background. I work in a commercial appraisal firm and have an appraiser trainee license. I got into the industry reviewing residential appraisals for quality at various AMCs before completing my education and obtaining a trainee license.

I enjoy working in the commercial world and intend to stay in my current position but would also like to have the option of supplementing my income and to gain some experience working independently on my own residential appraisals. I also currently meet all the requirements in my state to take the licensed residential appraiser exam and obtain that license.

My question is whether obtaining the licensed residential appraiser license would prevent me from continuing to sign commercial reports alongside my current supervisor?

 

[Raven59]

No. With a CG, you would sign as a LR or be acknowledged as a significant contributor.

 

[Terrel L. Shields]

Probably a state by state issue.

 

[Surf Cat]

I would like to back up to the beginning of your post for a second....

I got into the industry reviewing residential appraisals for quality at various AMCs before completing my education and obtaining a trainee license.

"Before" you acquired your trainees license, you were conducting reviews for AMC's, yes? In what capacity may I ask? Simple typos, comparable selection, reconciliation, the value?

 

[zaclan]

I would like to back up to the beginning of your post for a second....




"Before" you acquired your trainees license, you were conducting reviews for AMC's, yes? In what capacity may I ask? Simple typos, comparable selection, reconciliation, the value?

The review was for 'quality' from the clients perspective which was typically limited to typos, photos, making sure commentary lined up with adjustments etc. Occasionally it would include requests for additional discussion/clarification or a reconsideration of value if the client requested it. My job was essentially to ask all the questions a client would, before the client could.

None of these "reviews" were USPAP reviews.

 

[Surf Cat]

The review was for 'quality' from the clients perspective which was typically limited to typos, photos, making sure commentary lined up with adjustments etc. Occasionally it would include requests for additional discussion/clarification or a reconsideration of value if the client requested it. My job was essentially to ask all the questions a client would, before the client could.

None of these "reviews" were USPAP reviews.

Thanks for the honest answer. Good luck in your appraisal journey.

To answer your question, I'm Certified and I've signed as the appraiser whereas my mentor (he's an AG), signed as the supervising appraiser on residential properties. We'd comment in the addendum what each of our roles were. Being transparent is the best policy imo.

There was a time prior to being certified, that the lenders did not want my licensed signature (forget trainee) on the report. Certified or higher only. They didn't even want a mention of assistance on the form. You had to bury that in the addendum.

 

[sputnam]

You can sign.