Staff Appraiser Question

[Badgerollie]

Is it possible for a bank staff appraiser to complete appraisals for other clients (Doing appraisals on the side)? Then possibly working out a split of fee with their employer for those reports they do on the side. Wondering if anyone does this?

Thanks.

 

[Zephyr999]

No...requires separate resources, software, etal.

 

[shrubberyvaluation]

Is it possible for a bank staff appraiser to complete appraisals for other clients (Doing appraisals on the side)? Then possibly working out a split of fee with their employer for those reports they do on the side. Wondering if anyone does this?

Thanks.

I'd think it would be based on your agreement with the bank.

 

[alebrewer]

So long as you don't have an exclusive agreement, there shouldn't be an issue - but I would definitely get sign off from your employer. I would personally also limit my work to bank/non GSE type assignments just in case some appraisal got transferred to you guys.

 

[Tom4value]

Is it possible for a bank staff appraiser to complete appraisals for other clients (Doing appraisals on the side)? Then possibly working out a split of fee with their employer for those reports they do on the side. Wondering if anyone does this?

Thanks.

Not quite sure who “their” is.

Your license is given to you by the state. If you are a w2 employee, you are governed by the bank. The state doesn’t care. Legally, can you do appraisals for someone else? Yes.

 

[J Grant]

Is it possible for a bank staff appraiser to complete appraisals for other clients (Doing appraisals on the side)? Then possibly working out a split of fee with their employer for those reports they do on the side. Wondering if anyone does this?

Thanks.

Normally, if you work for a bank, they would not like it - assuming you get a salary -but ask someone you trust there -- I doubt a bank is going to want a fee split from other clients.

 

[Surf Cat]

Is it possible for a bank staff appraiser to complete appraisals for other clients

On their time, on their computer, with their MLS and Data sources?? LOL

 

[Fernando]

Didn't we have a similar thread?
And why would you split with your bank?
My bank wouldn't let me do outside work but I did it anyway and I kept all the money to myself. Just don't let the bank know. It's your business decision.