An appraiser bound by USPAP may be asked to run an AVM and communicate its output without performing an appraisal, appraisal review, or appraisal consulting assignment. For example, an appraiser may be asked to simply enter property characteristics provided by the client but not alter the input or affect the AVM’s output. In this specific instance, the appraiser is not acting in the capacity of an appraiser but rather is functioning only as an AVM operator. In such a situation, an appraiser must carefully avoid any action that could be considered misleading or fraudulent. The appraiser should take steps to ensure that communication of the AVM’s output is not misconstrued as an appraisal, appraisal review, or appraisal consulting report. For example, the appraiser should:
1. Not communicate his or her opinions or conclusions as an appraiser regarding the credibility or reliability of the AVM’s output
While R3 List Assist LLC is a research marketing service we are owned and affiliated with Brent Jones, a Nevada Appraiser License #A.0001382-RES. Therefore, we operate in strict compliance with USPAP by clearly identifying the report as NOT an appraisal, not manipulating the results of the AVM, and limiting any communication regarding the report to general research methodology and not to any value estimates.
As an Appraiser I am bound by RESPA regarding settlement service providers. Respa violations are defined as giving something of value in exchange for business. Automated values are now commonplace and widely available for free online therefore not considered a thing of value. Our research support is an extension of our core research.