Texas Real Estate Brokers use to be able to perform non-federal related transaction Appraisals for compensation under the Texas Real Estate Licensing Act found in Chapter 1101 of the Texas Occupations Code for decades.
While legislators removed “appraisals” from the list of permitted activities in Chapter 1101 effective Sept. 1, 2011 for Real Estate Broker’s it added another permitted activity in its place (BPO). Brokers and their salespersons may prepare written analyses, opinions or conclusions related to the estimated price of real property as long as there is a written disclaimer stating:
Are not referred to as appraisals
Are given in the ordinary course of the broker’s or salesperson’s business
Are related to the actual or potential acquisition, disposition, encumbrance, or management of an interest in real property