(1) No person other than a state-certified or state-licensed real estate appraiser may receive compensation of any form for a real estate appraisal or an appraisal review, except that a state-registered appraiser trainee may receive compensation from one or more supervisory appraisers or the supervisory appraiser’s employer for appraisal assignments.

Terms Used In Washington Code 18.140.020

  • Appraisal: A determination of property value.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
(2) Compensation may be provided for brokers price opinions prepared by a real estate licensee, licensed under chapter 18.85 RCW.
(3) No person, other than a state-certified, state-licensed real estate appraiser, or a state-registered appraiser trainee may assume or use that title or any title, designation, or abbreviation likely to create the impression of certification, licensure, or registration as a real estate appraiser by this state.
(4) A person who is not certified, licensed, or registered under this chapter shall not prepare any appraisal of real estate located in this state, except as provided under subsection (2) of this section.
(5) This section does not preclude a staff employee of a governmental entity from performing an appraisal or an appraisal assignment within the scope of his or her employment insofar as the performance of official duties for the governmental entity are concerned. Such an activity for the benefit of the governmental entity is exempt from the requirements of this chapter.
(6) This chapter does not preclude an individual person licensed by the state of Washington as a real estate broker or as a real estate salesperson from issuing a brokers price opinion. However, if the brokers price opinion is written, or given as evidence in any legal proceeding, and is issued to a person who is not a prospective seller, buyer, lessor, or lessee as the only intended user, then the brokers price opinion shall contain a statement, in an obvious location within the written document or specifically and affirmatively in spoken testimony, that substantially states: “This brokers price opinion is not an appraisal as defined in chapter 18.140 RCW and has been prepared by a real estate licensee, licensed under chapter 18.85 RCW, who . . . . . (is/is not) also state-certified or state-licensed as a real estate appraiser under chapter 18.140 RCW.” However, the brokers price opinion issued under this subsection may not be used as an appraisal in conjunction with a federally related transaction.
(7) This section does not apply to an appraisal or an appraisal review performed for a financial institution or mortgage broker by an employee or third party, when such appraisal or appraisal review is not required to be performed by a state-certified or state-licensed real estate appraiser by the appropriate federal financial institutions regulatory agency.
(8) This section does not apply to an attorney licensed to practice law in this state or to a certified public accountant, as defined in RCW 18.04.025, who evaluates real property in the normal scope of his or her professional services.

NOTES:

Effective dates—2005 c 339: See note following RCW 18.140.005.
Effective date—1997 c 399: See note following RCW 18.140.010.
Effective dates—1996 c 182: See note following RCW 18.140.005.
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