CRPA Stakeholder Roles & Service Delivery 2 — Questions and Answers
Question 1: When a corporation's relocation policy conflicts with an employee's housing needs, which stakeholder typically mediates the dispute?
- The destination real estate agent
- The relocation management company (RMC) (Correct answer)
- The appraiser's client of record
- The mortgage lender
Correct answer: The relocation management company (RMC)
The RMC serves as the coordination hub between corporate clients and transferees, resolving policy-to-need conflicts.
Question 2: A third-party relocation company orders an appraisal on behalf of a corporate employer. Who is the appraiser's client under USPAP?
- The transferee whose home is being appraised
- The corporate employer funding the relocation
- The third-party relocation company that engaged the appraiser (Correct answer)
- The destination state's housing authority
Correct answer: The third-party relocation company that engaged the appraiser
Under USPAP, the client is the party who engages the appraiser — in this case the third-party relocation company.
Question 3: Which ERC guideline defines the recommended scope of work for a relocation appraisal?
- Fannie Mae Selling Guide Chapter B4-1
- ERC Worldwide Employee Relocation Appraisal Guidelines (Correct answer)
- FIRREA Title XI minimum appraisal standards
- HUD Handbook 4000.1
Correct answer: ERC Worldwide Employee Relocation Appraisal Guidelines
The ERC Worldwide Employee Relocation Appraisal Guidelines set the industry-standard scope for relocation appraisals.
Question 4: A transferee disagrees with the appraised value of their home. What is the most appropriate next step under standard relocation service delivery?
- The transferee hires their own appraiser at personal expense to replace the original report
- The RMC orders a second independent appraisal per program policy (Correct answer)
- The corporate HR department overrides the value administratively
- The transferee negotiates directly with the original appraiser to revise the value
Correct answer: The RMC orders a second independent appraisal per program policy
Standard relocation policy typically provides for a second independent appraisal when the transferee disputes the first value.
Question 5: Which relocation stakeholder is primarily responsible for ensuring the transferee understands the home sale assistance program benefits?
- The listing real estate agent
- The destination city's chamber of commerce
- The relocation counselor or coordinator (Correct answer)
- The title company closing agent
Correct answer: The relocation counselor or coordinator
The relocation counselor or coordinator is tasked with explaining program benefits and guiding the transferee through the process.
Question 6: Under an amended value sale program, the employer purchases the transferee's home at the appraised value and then resells it. What role does the appraiser play in the resale phase?
- The appraiser lists the property on MLS as the seller's agent
- The appraiser may be asked to provide a listing price recommendation separate from the original appraisal (Correct answer)
- The appraiser automatically updates the original report to reflect current market conditions for resale
- The appraiser has no involvement once the original appraisal report is delivered
Correct answer: The appraiser may be asked to provide a listing price recommendation separate from the original appraisal
Appraisers may separately provide listing price recommendations, but the original appraisal report is not automatically updated for the resale phase.
Question 7: A corporate client instructs the appraiser to exclude a bedroom addition that lacks permits when determining value. How should the appraiser respond?
- Comply fully since the client controls the scope of work
- Exclude the addition but disclose this limiting condition in the report (Correct answer)
- Refuse the assignment entirely as it violates USPAP
- Include the addition anyway and note client instructions in the addenda
Correct answer: Exclude the addition but disclose this limiting condition in the report
The appraiser may honor the client's scope instruction but must disclose this as a limiting condition that affects value.
CRPA Stakeholder Roles & Service Delivery 2
When a corporation's relocation policy conflicts with an employee's housing needs, which stakeholder typically mediates the dispute?