LICENSEES CANNOT USE THE TERM “VALUE” IN COMPARATIVE MARKET ANALYSIS OR BROKER OPINIONS

Tennessee Law requires Real Estate Licensees providing clients and/or customers with a Comparative Market Analysis ( CMA ) or Broker Opinion to not use the term “Value” in their CMA or Broker Opinion. In Tennessee only Licensed and Certified Appraisers may use the term “Value” in their property appraisals. A Real Estate Licensee should use simple language in a CMA or Broker Opinion such as:

n "this is a recommended listing price"

n "this is a recommended listing range", or

n "this is a recommended purchase price."

Appraisal Law [ T.C.A. §62-39-104 ] prohibits the use of the term “value” by anyone other than a licensed certified Appraiser.