All GPAR Members ->> Sales Person & Comps For Tax Assessments

[Tiffany Hendricks]

As the 2020 Bannock County Tax assessments get delivered, we, as REALTORS
will undoubtedly receive calls from family, friends and past customers and
clients in regards to their assessed values. It is the duty of the 2020 GPAR
Board of Directors to remind all licensees of the scope of their licensure.
In regards to the topic at hand, first and foremost, we are stewards of
proprietary information, including, but not limited to; sold prices,
sellers/buyers identification, contact info, schedules, access info etc.
Secondly, Idaho Statutes, Title 54, Chapter 41 "Idaho Real Estate Appraisers
Act" states the following:

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
<https://legislature.idaho.gov/statutesrules/idstat/Title63/T63CH1/SECT63-10
5A> 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
<https://legislature.idaho.gov/statutesrules/idstat/Title54/T54CH20> 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,
<https://legislature.idaho.gov/statutesrules/idstat/Title54/T54CH41> 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.

 

Simply stated, the distribution of comparable sold information, by a
licensed sales person, to the general public for purposes of appealing tax
assessments is not permitted.

It should also be noted that a "Broker's Price Opinion" has separate
standards and criteria and you should consult with your broker for policies
and guidance on that manner.

 

Eli Townsend

2020 GPAR President

 

 

Tiffany Hendricks

Executive Officer

Greater Pocatello Association of REALTORSR

978 W. Alameda

P.O. Box 2552

Pocatello, ID 83206

Phone (208) 237-2600

Fax (208) 237-8344

cid:3b2273ed-7e9f-44a5-9fa1-cf6dde4a811a

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mykro.com/pipermail/gpar-members_mykro.com/attachments/20200615/5855738d/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.png
Type: image/png
Size: 51076 bytes
Desc: not available
URL: <http://mykro.com/pipermail/gpar-members_mykro.com/attachments/20200615/5855738d/attachment-0001.png>