                                 CODE OF VIRGINIA

EXEMPTIONS FROM LICENSURE (§ 54.1-2010)

A. The provisions of this chapter shall not apply to:

   1. A real estate broker or salesperson licensed in the Commonwealth who, in
   the ordinary course of business, provides a valuation or analysis of real
   estate for a fee; however, such person shall not hold himself out as a real
   estate appraiser, and the valuation shall not be referred to as an appraisal
   and shall not be used in lieu of an appraisal performed by a licensed
   appraiser.

   2. An officer or employee of the United States of America, or of the
   Commonwealth or a political subdivision thereof, where the employee or officer
   is performing his official duties, provided that such individual does not
   furnish advisory service for compensation to the public or act as an
   independent contracting party in the Commonwealth or any political subdivision
   thereof in connection with the appraisal of real estate or real property.

   3. Any person who, in the ordinary course of business, provides consulting
   services or consultative brokerage for a fee, which services may include a
   valuation or analysis of real estate or standing or severed timber; provided
   such consulting services or consultative brokerage shall not be referred to as
   an appraisal and shall not be used in connection with obtaining a loan to
   finance or refinance real property or standing or severed timber or in
   connection with any federally related transaction.

   4. Any person who, in the regular course of business, provides services to his
   employer, which services may include a valuation or analysis of real estate,
   provided such services shall not be referred to as an appraisal and shall not
   be used in lieu of an appraisal performed by an appraiser licensed hereunder.

   5. Any person, including (i) a licensed residential real estate appraiser,
   certified residential real estate appraiser, or certified general real estate
   appraiser or (ii) an employee of a financial institution or lender, who
   provides an evaluation of real estate or real property in connection with a
   real estate-related financial transaction where an appraisal by a
   state-certified or state-licensed appraiser is not required by the state or
   federal financial institution&#8217;s regulatory agency engaging in,
   contracting for or regulating such real estate-related financial transaction
   or regulating the financial institution or lender engaged in or about to
   engage in such real estate-related financial transaction. The evaluations
   provided by such persons shall comply with any standards imposed by the state
   or federal financial institution&#8217;s or lender&#8217;s regulatory agencies
   for evaluations prepared by nonstate-certified or nonstate-licensed
   appraisers.

B. Nothing contained herein shall proscribe the powers of a judge to determine
who may qualify as an expert witness to testify in any legal proceeding.

HISTORY: 1990, c. 459; 1992, c. 68; 1995, c. 327; 1999, c. 259; 2017, cc. 258,
269.