Q: Can I refer to a broker price opinion (BPO) or comparative market analysis (CMA) as an “appraisal” if I’m not also a licensed appraiser under Part II, Chapter 475?
A: No. Per Section 475.01, Florida Statutes, the presence of the terms appraise or appraising in the definition of broker services specifically excludes those services that must be done by a state-licensed, state-certified or registered trainee appraiser. Although a real estate licensee is authorized to perform a BPO or CMA for a customer, under section 475.25(1)(t) the CMA or BPO should not be referred to as an appraisal. A violation of this provision could result in disciplinary action against your license.