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RubberStamp

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Reply with quote  #1 
How do you handle the disclosure of your appraising license when you are dealing on the sales side and having to provide value opinions?  And how dicey is it?
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We argue this: Meanwhile the agent's assistant just did 5 unofficial appraisal inspections they paired with a Zestimate and granted 90% LTV - all guaranteed no buy back.
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Nomad

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Reply with quote  #2 
Make sure everyone is clear you are wearing your agent hat not your appraising hat.
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RubberStamp

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Reply with quote  #3 
How do you make that clear?  Verbally?  I wonder if a quick and dirty disclosure could be created that specify which hat you will be wearing with sales clients.  Any reference to price or value is a necessary part of the sales process but is not to be confused with appraisal services. Just add it to the agreement.
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We argue this: Meanwhile the agent's assistant just did 5 unofficial appraisal inspections they paired with a Zestimate and granted 90% LTV - all guaranteed no buy back.
0
Nomad

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Reply with quote  #4 
I just do it verbally and have never been asked for a work file for any of my sales deals. 😀
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HighRoad

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Reply with quote  #5 
I prefer to go over market data with a potential buyer or seller and let them see what I see and come to their own conclusion. Like others here I state specifically that it is not an appraisal and that I am not acting in that capacity. We do a market analysis for new sellers but it does not come directly from me even though I assisted in data collection and analysis. It is something to be very careful with since both licenses are important to my income. BTW-I have found that most clients, on either side, see having experience with both as a real benefit and not a conflict. 
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RubberStamp

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Reply with quote  #6 
Quote:
Originally Posted by HighRoad
BTW-I have found that most clients, on either side, see having experience with both as a real benefit and not a conflict. 


That is what I'm anticipating..  and its good to hear that my assumptions my be correct.

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We argue this: Meanwhile the agent's assistant just did 5 unofficial appraisal inspections they paired with a Zestimate and granted 90% LTV - all guaranteed no buy back.
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