A licensed real estate appraiser may not accept a commission for an appraisal assignment that is contingent upon the appraiser reporting a predetermined estimate, analysis, or opinion, or is contingent upon the opinion, conclusion, or valuation reached, or upon the consequences resulting from the appraisal assignment.
A licensed real estate appraiser who enters into an agreement to perform a market analysis may be paid a fixed fee or a fee that is contingent on the results achieved by the specialized services.
If a licensed real estate appraiser enters into an agreement to perform a market analysis for a contingent fee, this fact must be clearly stated in each written and oral report. In each written report, this fact must be clearly stated in a prominent location in the report and also in each letter of transmittal and in the licensing statement made by the appraiser in the report.
1989 c 341 art 1 s 22
Structure Minnesota Statutes
Chapters 82 - 83 — Real Estate Sales Regulations
Chapter 82B — Real Estate Appraisers
Section 82B.021 — Definitions.
Section 82B.03 — Prohibitions.
Section 82B.04 — Responsibility For Agents.
Section 82B.07 — Powers Of The Commissioner.
Section 82B.072 — Formal Complaints.
Section 82B.073 — Real Estate Appraisal Advisory Board.
Section 82B.08 — Licensing Requirements.
Section 82B.093 — Trainee Real Property Appraiser.
Section 82B.094 — Supervision Of Trainee Real Property Appraisers.
Section 82B.095 — Appraiser Qualification Components.
Section 82B.105 — Reciprocity.
Section 82B.11 — Classes Of License.
Section 82B.13 — Education Prerequisites.
Section 82B.135 — Course Completion Certifications For Real Estate Appraiser License.
Section 82B.15 — Nonresident Service Of Process.
Section 82B.16 — Principal Place Of Business And Notice.
Section 82B.17 — License Designation.
Section 82B.19 — Continuing Education.
Section 82B.195 — Standards Of Conduct.
Section 82B.20 — Prohibited Practices.
Section 82B.201 — Criminal Penalty.
Section 82B.21 — Classification Of Services.
Section 82B.22 — Contingent Fees.
Section 82B.23 — Federal Certification.