Ok, as I was saying when I welcomed Linda, my board here in Richmond just clarified the subject of charging for CMAs or BPOs.
In an article in our recent CVRMLS Board magazine, the author pointed to the Code of Virginia Secttion 54.1-2011.A which states "It shall be unlawful to enagage in the appraisal of real estate or real property for compensation or valuable consideration in this Commonwealth without first obtaining an appraiser's license in accordance with Board regulations."
We can still perform these duties, we just can't get paid for them, or else, we would also be in violation of Article 11 of the Code of Ethics by providing services that are outside our normal course of business.
Of course, I disagree with this interpretation and have been charging for CMAs in my previous consulting efforts because I am not trying to perform an appraisal nor do I represent the work product as an appraisal. it is merely an agent's professional opinion of market value. But, I'll conform just as Linda and, others, I'm sure, will have to do as well. There is so much more to what we offer than just doing CMAs.
Merv and Susan M, I'd be interested in your take on this subject. And, Martha , since you are our board's recent past president, do you have any insight into this matter?
Deb Orth
Keller Williams Realty
Richmond, Va