Bill > S131

This bill aims to provide consumers with equal protection for all real estate appraisals by amending Chapter 112 of the General Laws. Specifically, it clarifies that only individuals holding a state-certified general real estate appraiser, state-certified residential real estate appraiser, or state-licensed real estate appraiser designation can use those titles or any similar ones that might suggest they are certified or licensed by the state. Furthermore, with a few exceptions, it will be illegal for anyone to prepare a real estate appraisal or appraisal report for a fee without first obtaining the proper license or certification. The exceptions include real estate brokers or salespeople, and certified public accountants or business brokers who, in the normal course of their business, provide an opinion on the price of real estate for purposes like listing, buying, selling, or business valuation, as long as this opinion is not called an "appraisal." This Act is set to become effective on January 1, 2016.