(a) A real estate license holder may not perform an
appraisal of, or provide an opinion of value for, real property unless
the license holder is licensed or certified under Texas Occupations
Code, Chapter 1103.
(b) If a real estate license holder provides a broker
price opinion, comparative market analysis, or estimated worth or
sale price under the Act, the license holder shall also provide the
person for whom the opinion, analysis, or estimate is prepared with
a written statement containing the following language: "This represents
an estimated sale price for this property. It is not the same as the
opinion of value in an appraisal developed by a licensed appraiser
under the Uniform Standards of Professional Appraisal Practice."
(c) The statement required by subsection (b) of this
section must be made part of any written opinion, analysis, or estimate
of worth or sale price and must be reproduced verbatim in at least
12-point font.
(d) A sales agent may prepare, sign, and present a
broker price opinion, comparative market analysis, or estimate of
worth or sale price for the sales agent's sponsoring broker, but the
sales agent must submit the broker price opinion, comparative market
analysis, or estimate of worth or sale price in the broker's name
and the broker is responsible for it.
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Source Note: The provisions of this §535.17 adopted to be effective January 1, 1976; amended to be effective March 1, 1991, 15 TexReg 7435; amended to be effective August 19, 1991, 16 TexReg 4284; amended to be effective April 14, 1998, 23 TexReg 3682; amended to be effective July 1, 1999, 24 TexReg 4824; amended to be effective January 1, 2004, 28 TexReg 9541; amended to be effective January 1, 2011, 35 TexReg 11674; amended to be effective November 1, 2011, 36 TexReg 7326; amended to be effective January 1, 2015, 39 TexReg 9669; amended to be effective December 6, 2017, 42 TexReg6800 |