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Document #4058: Broker Price Opinion Guidance Document. This document provides guidance pertaining to § 54.1-2010.A.1 of the Code of Virginia, which (i) prohibits any licensee who provides a valuation or analysis of real estate, such as a broker price opinion, for a fee in the ordinary course of business from holding themself out as a real estate appraiser; (ii) prohibits such valuation as being referred to as an appraisal; and (iii) provides that such valuation not be used in lieu of an appraisal performed by a licensed real estate appraiser. The document is being revised to streamline the guidance provided to regulants and to remove unnecessary language.
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