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A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and in a small number of other ...
The Appraisal Foundation is a non-profit organization established in 1987 by the largest valuation organizations in North America. The foundation was congressionally authorized to develop standards and qualifications for real estate appraisers under Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
Member of the Appraisal Institute [62] MAI: Appraisal Institute: Senior Residential Appraiser [62] SRA: Appraisal Institute: Accredited Member [63] AM: American Society of Appraisers: Accredited Senior Appraiser [63] ASA: American Society of Appraisers: Real Property Administrator [64] RPA: Building Owners and Managers Association International
Due to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 licensed and certified real estate appraisers in the United States who are involved in a federally related transaction are required to follow federally accepted, uniform standards, known as USPAP, which are promulgated by the Appraisal Standards Board of the Appraisal Foundation. [2]
In Germany, real estate appraisal is known as real estate valuation (Immobilienbewertung). Real estate appraisers (Immobilienbewerter or Gutachter) can qualify to become a Öffentlich bestellter und vereidigter Sachverständiger (officially appointed and sworn expert). However, this formerly very important title has lost a lot of its importance ...
Flat-fee real estate agents charge a seller of a property a flat fee, $500 for example, [11] as opposed to a traditional or full-service real estate agent who charges a percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the ...
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An appraiser (from Latin appretiare, "to value") is a person that develops an opinion of the market value or other value of a product, most notably real estate.. The current definition of "appraiser" according to the Uniform Standards of Professional Appraisal Practice (USPAP) is: "One who is expected to perform valuation services competently and in a manner that is independent, impartial and ...