BrokerageIndustry News

Appraisers lost licenses, became agents

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One in six appraisers whose licenses were revoked or surrendered in California and Florida since 2005 kept their real estate sales or broker's licenses, according to an investigation by the Center for Public Integrity.Some appraisers who lost their licenses also took positions in appraisal management companies, the center's investigation found.  The ability of former appraisers to make the switch to real estate sales -- or continue in management positions in the appraisal industry -- is the result of fragmented state bureaucracies, divided regulation of the real estate industry, and poor communication between regulators, the center concluded in reporting its findings.In California, for example, the Office of Real Estate Appraisers has responsibility over more than 16,000 licensed appraisers, but its computer systems are not linked up with the California Department of Real Estate, which licenses real estate brokers and agents, the report said.The Center for Public Integrity is a nonpro...