Arizona State Senate Bill 1291, as amended to assure the legality of consumer-oriented Automated Valuation Models such as that used by Zillow.com, passed the Arizona House today by a vote of 52-3, with five members not voting. The bill will be transmitted back to the Arizona Senate for reconsideration there.
The amendments, proposed last Monday by Scottsdale Republican Representative Michele Reagan, include language that will exempt AVMs from appraisal licensing requirements with the stipulation that home valuations are provided at no cost and are not called “appraisals.”
The Arizona Board of Appraisal had issued two cease and desist letters to Zillow.com — but to no other free AVMs — demanding that the Seattle-based internet real estate start-up stop issuing home valuations in Arizona until it obtained an Arizona appraisal license. The Attorney General of Arizona had issued a similar letter to Zillow.com.
If the amended version of SB 1291 passes the Senate and is signed by the governor, free consumer-oriented AVMs will be able to operate without impediments in Arizona.
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shaun mclane says:
Thanks BH for always being on top of this. I think this is a win for Z. 52-3 vote seems pretty strong. I’m curious about the cease and desist orders. I assume they’re still in effect until this passes Senate. Any idea when senate votes?
May 1, 2007 — 4:06 am
Greg Swann says:
> I’m curious about the cease and desist orders. I assume they’re still in effect until this passes Senate.
Yes, althought they were sent months ago, to no effect.
>Any idea when senate votes?
As early as next week. Inman has it that there will be a conference version of the bill, so the show ain’t over yet.
May 1, 2007 — 6:50 am
Reid says:
Am researching on Zillow.com and this is an old but useful post for me. Just wanted to give my thanks.
September 9, 2008 — 8:01 pm