TITLE 54

PROFESSIONS, VOCATIONS, AND BUSINESSES

CHAPTER 41

IDAHO REAL ESTATE APPRAISERS ACT

54-4105.  Exceptions. (1) The provisions of this chapter do not restrict the right to use the term "appraiser," provided that such term is not used in a manner that creates the impression of certification by the state of Idaho to perform real estate appraisals other than ad valorem tax appraisals. However, nothing in this chapter shall entitle a state licensed or state certified real estate appraiser to appraise real estate for ad valorem tax purposes unless he has first been certified by the Idaho state tax commission pursuant to section 63-105A(17), Idaho Code.

(2)  The provisions of this chapter shall not apply to a licensed real estate broker, associate broker or salesperson who, in the ordinary course of his business gives an opinion of the price of real estate for the purpose of a prospective listing or sale, provided that such person does not represent himself as being a state licensed or certified real estate appraiser.

(3)  The provisions of this chapter shall not prohibit a real estate broker or associate broker licensed under chapter 20, title 54, Idaho Code, whose license is active and in good standing, from rendering a broker’s price opinion, for which the broker may charge a fee, provided the broker’s price opinion complies with the following requirements:

(a)  The broker’s price opinion shall be in writing and contain the following:

(i)    A statement of the intended purpose of the price opinion;

(ii)   A brief description of the subject property and property interest to be priced;

(iii)  The basis of reasoning used to reach the conclusion of the price, including the applicable market data and/or capitalization computation;

(iv)   Any assumptions or limiting conditions;

(v)    A disclosure of any existing or contemplated interest of the broker(s) issuing the opinion;

(vi)   The name and signature of the broker(s) issuing the price opinion and the date of its issuance;

(vii)  A disclaimer that, unless the broker is licensed under the Idaho real estate appraisers act, chapter 41, title 54, Idaho Code, the report is not intended to meet the uniform standards of professional appraisal practice;

(viii) A disclaimer that the broker’s price opinion is not intended to be an appraisal of the market value of the property, and that if an appraisal is desired, the services of a licensed or certified appraiser should be obtained.

The broker’s price opinion permitted under this chapter may not be used as an appraisal, or in lieu of an appraisal, in a federally related transaction.

(4)  Any person who is not licensed or certified under the provisions of this chapter may assist a state licensed or certified real estate appraiser in the performance of an appraisal, provided that he is actively and personally supervised by the state licensed or certified appraiser and provided further that any appraisal report rendered in connection with the appraisal is reviewed and signed by the state licensed or certified real estate appraiser.

(5)  The provisions of this chapter requiring mandatory licensure or certification shall not apply to employees or agents of the Idaho transportation department or a local highway jurisdiction when estimating the market value for property that is subject to eminent domain by the department or local highway jurisdiction, or property owned by the department or local highway jurisdiction that has been declared surplus, where a noncomplex appraisal would normally be ordered, and the market value is ten thousand dollars ($10,000) or less. Such estimates of market value shall be reviewed and approved by an Idaho state certified general real estate appraiser. Idaho state certified general real estate appraisers who estimate or review market value of property under this section shall be exempt from the requirements of uniform standards of professional appraisal practice. A value estimate shall be provided to the property owner who shall also be informed of his right to request and receive an appraisal of his property.

(6)  This chapter shall not prohibit a property owner from expressing his personal opinion of the value of his own property, nor shall the provisions of this chapter prohibit a lender, or employee of a lending institution, from forming and expressing an opinion of collateral value in the ordinary course of business including, but not limited to, mortgaging property, underwriting a loan, or foreclosing a loan, so long as such opinion of collateral value is not represented as being an appraisal of the market value of the property, or prepared under the provisions of this chapter.

(7)  This chapter shall not prohibit an attorney or accountant from rendering professional advice within the ordinary course of his profession, so long as such advice is not represented to be an appraisal of the market value of the property.

History:

[54-4105, added 1990, ch. 82, sec. 1, p. 166; am. 1992, ch. 92, sec. 5, p. 285; am. 1993, ch. 320, sec. 1, p. 1178; am. 1994, ch. 71, sec. 1, p. 148; am. 1996, ch. 137, sec. 1, p. 462; am. 1996, ch. 322, sec. 56, p. 1085; am. 1999, ch. 54, sec. 3, p. 138; am. 2002, ch. 31, sec. 1, p. 45; am. 2004, ch. 85, sec. 1, p. 319; am. 2013, ch. 137, sec. 1, p. 321.]