Appropriate Disclosures
Q:
"I am currently a licensed real estate agent and a licensed real estate appraiser. Although I keep my real estate agent license current, I have not handled any sales in over 5 years.
Recently, I was offered a part-time position as a closing coordinator where my supervising broker is located. My appraisal work has been slow, and I can use the money, but I am concerned about potential "conflicts".
I know I couldn’t accept an assignment to appraise a property if that office was involved in the transaction...but what about the brokerage overall? Would I have to turn down an appraisal if any franchise office was involved? It’s a big company with hundreds of offices throughout the state. If my office is not involved would a disclosure of my employment be enough?"
A:
I think you need to get an opinion from your state licensing board on this one. You have reason to be concerned and you are right to get advice before accepting the position. I know of one appraiser who failed to make appropriate disclosures and did receive discipline from his licensing board.
Check with your state board and find out when you would have to refuse an assignment and when, if ever, a simple disclosure would suffice. Hopefully, since you are dealing with a large brokerage, with hundreds of offices, a disclosure will be enough, and you won’t be precluded from taking the job.