Can a licensed real estate broker prepare an appraisal for a new loan on property...

Pennsylvania Real Estate Commission RePA_Sales_S Question Answer

Can a licensed real estate broker prepare an appraisal for a new loan on property that the broker has listed for sale?

Yes, if the appraisal is identified as a comparative market analysis.

Yes, if the appraisal is done before an offer to purchase is accepted by the seller.

Yes, with proper disclosure to the lender about the broker’s qualifications.

No, real property appraisals are not within the scope of practice for a real estate broker.

RePA_Sales_S PDF/Engine

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