Can Appraiser also work as RealEstate Agent?

[scottmti]

Just like to clarify if the appraiser could work as a normal Real Estate agent?
I'm assuming I can appraisal a same house I might be either selling or buying for the client.
I am thinking working as a Real Estate Agent also. Not really a full time but joining a small group of agents in my area.

I like to get some input before I put my name on their list as a sales agent. I don't want to risk my appraiser license if some strange reason OREA decide I can't do both.

Thanks
Scott

 

[Lee Lansford]

...I'm assuming I can appraisal a same house I might be either selling or buying for the client.
.../QUOTE]



Please clarify as the meaning of your sentence is not clear (at least not to me).

 

[Paul Isolda]

What you are saying is not very clear but I got the impression that you are assuming that you can act as both agent and appraiser for the same property.

NO

An agent acts in a position of advocacy for the client an appraiser cannot be an advocate for the client. Therefore, you can not appraise a property where you represent one of the parties in the transaction. In the certifications you sign with the appraisal you state that you have no present or contemplated future interest in the property or the parties involved.

 

[Ryan Achenbach]

Additionally, I would likely think you would also not be able to perform appraisals on any property in which anyone in the "group" of agents you would be joining is representing either the borrower or seller. Or at least you shouldn't, as this may likely appear as a conflict of interest.

Every time I go to continuing ed, there are several people in the room that have licenses for both, but typically it seems they almost exclusively do one or the other.

 

[John LaBelle]

I am both an appraiser an a broker. Until a few months ago, I was affiliated with a local REMAX office. During my time with REMAX, I did not appraise any sales where my office was involved in the transaction (even if I was not involved in the transaction). I now have my own brokerage firm (just me) so I no longer will have to turn down work unless it is my listing or buyer. As long as you keep the two separate, you will be fine. When acting as an agent, be sure your client (buyer or seller) understands any conversations you have with them about price or value is not to be considered an appraisal. I am currently trying to draft a disclosure form to use for this. I had to change my E&O policy too, but it wasn't much more per year to add brokerage to it.

 

[NorthTexValuation]

Just like to clarify if the appraiser could work as a normal Real Estate agent? I'm assuming I can "appraisal" a same house I might be either selling or buying for the client.
Thanks
Scott

Sure you can "appraisal" it.

I can't see any conflict of interest there whatsoever.

Your welcome Scott!

 

[Ca Ar Independent]

The crickets on this one are VERY loud!!!!

Scott...since this seems to be a sincere request the answer is
NO!

 

[Ryan Achenbach]

Sure you can "appraisal" it.

I can't see any conflict of interest there whatsoever.

Your welcome Scott!

You're

 

[The Warrior Monk]

An appraiser could appraise a property that he had a listing on, assuming proper disclosure to the client, and provided the state didn't have a specific prohibition on this matter.

HOWEVER, practically this isn't going to happen. The appraisal will not be perceived as unbiased, even if it is. Many clients also will not accept it.

If the client needs a value opinion on the property, the broker could provide such an opinion via BPO.

 

[residentialguy]

Just like to clarify if the appraiser could work as a normal Real Estate agent?
I'm assuming I can appraisal a same house I might be either selling or buying for the client.

With your RE agent hat on, you can determine the best listing price on your client's property. There are many agent/appraisers. You can also look at a house with a buyer/client and as a RE agent hat on and determine if it is a good buy and what to offer. You can do anything an RE agent can do.

On a purchase, the lender hires their own appraiser. They wouldn't be hiring you. If you got a request to appraise the same house you're selling, you'd have a conflict of interest and would have to decline it.