Prohibitions - Real Estate Appraisers

Purpose: This bulletin explains real estate appraiser prohibitions.

This bulletin applies to all real estate appraisers and candidates.

The Real Estate Council of Alberta (RECA) has established a list of practices that mislead and undermine the appraisal process as well as the integrity of the real estate appraisal profession.

Real estate appraisers and appraiser candidates must not:

The Rules define conflict of interest as a real or apparent incompatibility between an industry member’s interests and the client or potential client’s interests.

Examples

  1. Jane Doe is a real estate appraiser. Her brother in law’s mother recently passed away and left him the house. He wants the house appraised to re-finance it and turn it into a rental property. He asks Jane to do the appraisal for his bank. Jane must not take on this appraisal assignment as she is in a conflict of interest. She must refuse to do the appraisal.
  2. Joe is a real estate appraiser with training and experience only in residential real estate. A strip mall owner requests Joe to appraise the mall. As Joe does not have training or experience in commercial appraisal, he must refuse this assignment, unless he completes assignment in conjunction with a qualified appraiser.

Related information

Legislation

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