Who must license?
According to Utah law, a license is required for any individual who prepares, for valuable consideration, an appraisal, appraisal report, certified appraisal report, or performs a consultation service relating to real estate. (UCA 61-2b-3)
Who is exempt from licensing?
A license is not required for the following individuals who give an opinion regarding the value of real estate (but an opinion of value may not be referred to as an "appraisal"):
- A licensed real estate Broker or Sales Agent who gives an opinion of value in the ordinary course of business.
- An employee of a company who gives an opinion of value solely for the company’s use.
- Any government official or employee acting within their scope of duties.
- An auditor or accountant who gives an opinion of value while performing an audit.
- An individual who gives an opinion of value for property in which the individual has an ownership interest.
- An individual who gives an opinion of value for which no consideration is paid and upon which no other party is reasonably expected to rely.
- An individual, such as a researcher or secretary, who does not provide significant professional assistance at arriving at analysis, opinion, or conclusion.
- An attorney authorized to practice law in Utah who uses an appraisal report or who states an opinion of value in the ordinary course of business.
Who needs to register an Appraisal Management Company?
An entity needs to register as an Appraisal Management company if it:
- Administers a network of appraisers to perform real estate appraisal activities for one or more companies;
- Receives a request for a real estate appraisal activity from a client; and for a fee paid by the client, enters into an agreement with one or more appraisers to perform real estate appraisal activity; or
- Otherwise serves as a third-party broker of an appraisal management service between a client and an appraiser .
How do I obtain a Temporary Practice Permit for a non-resident?
The State of Utah may issue a six-month Temporary Practice Permit to a non-resident who holds a license/certificate for real estate appraisal from another jurisdiction, if the license/certificate is in good standing and the nature of the business is temporary.
To obtain the Permit, submit to the Division:
NOTE: No more than 2 temporary permits will be issued per calendar year.
How do I obtain a license through reciprocity?
To apply for a license through reciprocity, submit to the Division:
- Completed and signed Appraiser Reciprocity Application.
- Letter of Request from the applicant, which includes a list of all other states in which the applicant is licensed or certified, including those states in which you may have sought only temporary status.
- $430 non-refundable fee ($350 application fee and $80 National Registry fee).