Frequently asked questions: Appraisers
- Does the law prevent a broker or salesperson from being paid for a price opinion?
- No, RCW 18.140.020(1) says “compensation may be provided for brokers price opinions prepared by a real estate licensee, licensed under chapter 18.85 RCW.”
- How do I get the required experience without a license?
- You must work under the supervision of a certified appraiser as a registered trainee.
- Is it legal for an apprentice appraiser to prepare an appraisal report?
- No. The law doesn’t prevent an “appraiser trainee” from preparing an appraisal report, but it requires a review and signature of a certified real estate appraiser as the supervisory appraiser. Remember that Standard Rule 2-3 USPAP requires the name of each individual providing significant professional assistance be stated in the certification of the report.
- Where can I find the number of hours allowable for appraisals?
- You may find the maximum hours allowable per property type in WAC 308-125-075.
- What’s considered a “complex” property?
- A complex property is one that isn’t typical when considering the following:
- Age of improvements
- Architectural style
- Size of improvements
- Size of site
- Neighborhood land use
- Potential environmental hazards liability
- Limited availability of comparable sales data
- Other unusual factors
- What standards of practice apply to real estate appraisers in the state of Washington?
- The standards of practice for Washington licensed or certified real estate appraisers is the Uniform Standards of Professional Appraisal Practice (USPAP) published by the Appraisal Standards Board of the Appraisal Foundation.
