2006 Code of Virginia § 54.1-2010 - Exemptions from licensure

54.1-2010. Exemptions from licensure.

A. The provisions of this chapter shall not apply to:

1. A real estate broker or salesperson licensed in the Commonwealth who, inthe ordinary course of business, provides a valuation or analysis of realestate for a fee; however, such person shall not hold himself out as a realestate appraiser, and the valuation shall not be referred to as an appraisaland shall not be used in lieu of an appraisal performed by a licensedappraiser.

2. An officer or employee of the United States of America, or of theCommonwealth or a political subdivision thereof, where the employee orofficer is performing his official duties, provided that such individual doesnot furnish advisory service for compensation to the public or act as anindependent contracting party in the Commonwealth or any politicalsubdivision thereof in connection with the appraisal of real estate or realproperty.

3. Any person who, in the ordinary course of business, provides consultingservices or consultative brokerage for a fee, which services may include avaluation or analysis of real estate or standing or severed timber; providedsuch consulting services or consultative brokerage shall not be referred toas an appraisal and shall not be used in connection with obtaining a loan tofinance or refinance real property or standing or severed timber or inconnection with any federally related transaction.

4. Any person who, in the regular course of business, provides services tohis employer, which services may include a valuation or analysis of realestate, provided such services shall not be referred to as an appraisal andshall not be used in lieu of an appraisal performed by an appraiser licensedhereunder.

5. Any person, or an employee of a financial institution or lender, whoprovides an evaluation of real estate or real property in connection with areal estate-related financial transaction where an appraisal by astate-certified or state-licensed appraiser is not required by the state orfederal financial institution's regulatory agency engaging in, contractingfor or regulating such real estate-related financial transaction orregulating the financial institution or lender engaged in or about to engagein such real estate-related financial transaction. The evaluations providedby such persons shall comply with any standards imposed by the state orfederal financial institution's or lender's regulatory agencies forevaluations prepared by nonstate-certified or nonstate-licensed appraisers.

B. Nothing contained herein shall proscribe the powers of a judge todetermine who may qualify as an expert witness to testify in any legalproceeding.

(1990, c. 459; 1992, c. 68; 1995, c. 327; 1999, c. 259.)