Posted by John Behle on October 09, 1998 at 12:02:52:
Our local board allows access to “affiliate” members that can include title companies, appraisers, mortgage companies, etc.
Licensing as an appraiser used to be non-existent, but is now mandatory in our area. A couple years ago anybody could call themselves an appraiser. Check in your area.
You’re on the right track, it may be an easier way to get MLS access without the liability of a license. I’ve never heard of anything where an appraiser has the same disclosure liability as an agent, but check it out first.
I read something the other day which talked about
Real Estate Appraisers and in the process mentioned
their access to the MLS. If one were to become a licensed
appraiser, would they have the same disclosure issues
that realtors do? Has anyone went down this road before?
And if so, how does one go about it? (I’m researching
it now, but if anyone has “been there, done that” it
would be nice to hear.
There is no specific disclosure rule for appraisers as investors, sellers, or buyers as far as I know.
There is a stack of rules that apply to appraisers and their reports though. An appraiser must be licensed or certified when the lender is dealing with any Federal money or the traditional secondary market (Fannie Mae). This all started with Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA). The act was a fallout from the savings and loan bailout.
It’s always a good idea to hire a licensed or certified when you deal with appraisers. Also, look for professional affiliations your appraiser may have. Both government regulatory agencies and private professional groups help keep everyone in line.
The main body of rules that apply to appraisers is called the Uniform Standards of Professional Appraisal Practice. Under USPAP, an appraiser must disclose any past, present, or future interest in the subject property that he/she may have, had or will have. (whew, take a breath…) The subject property, about which the appraisal is being written, not a property that an appraiser is buying or selling. An appraiser is also obligated to be impartial when rendering an opinion or not do the appraisal.
As far as the MLS goes, in my area anyone can join the MLS. Just come up with the required cash. Ask about affiliate or associate membership.
When I get wordy, It’s kinda like telling a person how to build a clock when all they wanted to know was the time!
Michael,
As far as disclosure is concerned for appraisals, it is Federally mandated that an appraiser list any functional, physical or environmental obsolescence.
If you are asking about licensing and availablity to the MLS system let me know, I am in the process of taking the state test and I am from the No Va area.
