2005 Idaho Code - 54-4105 — EXCEPTIONS

                                  TITLE  54
                    PROFESSIONS, VOCATIONS, AND BUSINESSES
                                  CHAPTER 41
                       IDAHO REAL ESTATE APPRAISERS ACT
    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
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 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, 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.
    (4)  Any person who is not licensed or certified under the provisions of
this chapter may assist a state licensed or certified real estate appraiser in
the performance  of an appraisal, provided that he is actively and personally
supervised by the state licensed or certified appraiser and provided further
that any appraisal report rendered in connection with the appraisal is
reviewed and signed by the state licensed or certified real estate appraiser.
    (5)  The provisions of this chapter requiring mandatory licensure or
certification shall not apply to employees or agents of the Idaho
transportation department when estimating the market value for property that
is subject to eminent domain by the department, or property owned by the
department that has been declared surplus, where a noncomplex appraisal would
normally be ordered, and the market value is ten thousand dollars ($10,000) or
less. Such estimates of market value shall be reviewed and approved by an
Idaho state certified general real estate appraiser. Idaho state certified
general real estate appraisers who estimate or review market value of property
under this section shall be exempt from the requirements of uniform standards
of professional appraisal practice. A value estimate shall be provided to the
property owner who shall also be informed of his right to request and receive
an appraisal of his property.
    (6)  This chapter shall not prohibit a property owner from expressing his
personal opinion of the value of his own property, nor shall the provisions of
this chapter prohibit a lender, or employee of a lending institution, from
forming and expressing an opinion of collateral value in the ordinary course
of business including, but not limited to, mortgaging property, underwriting a
loan, or foreclosing a loan, so long as such opinion of collateral value is
not represented as being an appraisal of the market value of the property, or
prepared under the provisions of this chapter.
    (7)  This chapter shall not prohibit an attorney or accountant from
rendering professional advice within the ordinary course of his profession, so
long as such advice is not represented to be an appraisal of the market value
of the property.