Question

An individual is both an appraiser and a real estate broker. What are the individual’s USPAP obligations when preparing listing presentations and comparative market analysis reports for brokerage clients?

Answer 1

Answer:

The Uniform Standards of Professional Appraisal Practice (USPAP) provides flexibility for professionals that have multiple roles like being a broker and an appraiser at the same time.

USPAP requires that appraisers must not misrepresent their roles if they also act as brokers or agents. That means that as long as appraisers are not doing something that misrepresents his/her appraiser role, then there is no limitation on performing other roles.

But if the appraiser is requested to sign a report as an appraiser, then USPAP rules apply and his/her appraiser role should be given priority.