Use of the term "Value"

Licenses cannot use the term "Value" in Comparative Market Analysis (CMA) 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:

"this is a recommended listing price"

"this is a recommended listing range", or

"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