You need to keep that discussion to your own state. A real estate broker in Texas "means a person who, in exchange for a commission or other valuable consideration or with the expectation of receiving a commission or other valuable consideration, performs for another person one of the following acts:"

"...(v) appraises or offers, attempts, or agrees to appraise real estate..."

You can find the other items by reviewing the Texas Occupations Code, Ch. 1101. http://tlo2.tlc.state.tx.us/statutes/oc.toc.htm

How many times are you going to be wrong on this issue? You haven't made one correct argument yet.

Actually CanDo presented an example where she defined value as being what someone was willing to pay and I only pointed that out by offering $1. It is possible that $1, $7,500, and $15,000 are all correct valuations based on the definition of value used and hence my statement that it was a poor analogy to introduce to this discussion. BTW I do see this as a discussion and based on my personal experiences, outside of this board, I've never felt there was animosity pointed toward me while wearing my appraiser's cap or talking to agents wearing my broker fez.

Florida Statue 475.01
Below is a link and scroll down and see paragraph 1 subsection A

While I could be wrong, its my hunch this is why BPOs are legal in Florida and are protected by state statue.

http://www.flsenate.gov/statutes/index.cfm?App_mode=Display_Statute&URL=Ch0475/ch0475.htm

Brad is right, however, here is more information and I am going to just quote the book:

"Florida law requires that all appraisals (regardless of whether the assignment involves a federally related transaction) performed by real estate appraisers and real estate licensees conform to USPAP. Real estate licensees must be familiar with the standards."

...and, of course, only certified appraisers can perform appraisals on federally related transactions.

"Real estate licensees are cautioned that just because a transaction is not a federally related transaction, it does not mean that real estate licensees are allowed to provide the appraisal services. FHA and VA transactions and appraisals for loans sold to Fannie Mae and Freddie Mac are not federally related transactions. However, Fannie Mae, Freddie Mac, HUD and the VA require the use of state-certified or licensed appraisers for all loans with which these entities are involved, regardless of the loan amount."

So, yes, in Florida, real estate licensees can perform appraisals but they need to conform to USPAP standards and can not be federally related transactions (this last part is federal law not just FL). Also, a state certified or licensed appraiser is not required if the transaction value is $250,000 or less (with the exceptions noted above).

You need to go back and re-read her example because your counter-argument fails to measure up. CanDo's example showed that the seller accepted the $7500. Your example was just an offer of $1. There is quite a bit of a difference there. If we wanted to get even more ludicrous, why don't you just offer to take the diamond off of the seller's hands while asking that they (the seller) pay you (the buyer) $7500 to do so? Just because you make the offer, does that make it worth -$7500? I don't think so. Again, I will repeat myself, your argument is purely from an appraisal point of view and does not apply to a discussion with real estate brokers. Nor is it really applicable to how a real estate broker values a property. It is possible that the same word can have different meanings depending upon your profession. It's amazing how hard it is for you to grasp this.

8 out of 10 real estate agents believe that 'USPAP' is some form of gynecological exam.

You mean it's NOT??????

Now they tell me...OMG, how wrong can a girl be?

..then can someone explain the stirrups?

Stirrups are used when you saddle up and go picture taking, everyone knows that!!!!

Why, what do you think the stirrups are used for?

LOL..I was just checking, I could have been wrong

I wonder why Saylor has not responded to my reply of him wanting a "direct citation where agents can appraise in FL."

Cat have his tongue???

It seems to me that a BPO is like a snapshot, a split second in time forever frozen on that one little page. If you have a great photographer the result is postcard worthy. If, on the other hand, you have a someone that just likes to snap pictures the result will probably be a blurred immage. And so, the more I learn about this new Bpo/Appraisal trend; the more I realize that BPO's are like a snapshot where an appraisal is a panoramic of the market and alot depends on who's behind the lens.
However, lets be clear BPO's need standardization and should follow basic valuation guidelines. Otherwise, we're build a photo album fully of poloroids.

While I'm a cat owner he hasn't caught my tongue - not yet anyway.

Just another busy work day after taking Sunday off. Thank you for the citation. I have not had time to read through it in detail. I wanted the info because agents are usually restricted from calling their work an appraisal unless they have that license also. And while I am most interested in CA, I do like to see how other states operate.

CanDo mixed and matched different type of values implying one was superior to another to make her point. I only pointed that out the misnomer. With regrets to BPO PRO for my poor grammar skills, CanDo said "A thing is only worth what someone is willing to pay." This is not a definition of market value but of the buyers value in use. This isn't an issue of words having different meanings but of the meaning of words. CanDo implied the appraisal for insurable value was wrong because it wasn't market value when in fact it could be spot on and supportable as insurable value. Likewise, the value in use to me is $1 as I intend to never have the need again for such a gem. No doubt many agents here grasped the concept before I pointed this out and I don't want to belabor this anymore because it's off topic. Let's just say it CanDo's post was a less than ideal example for this thread and move on.

Saylor