Federal licensing of real estate appraisers involved in virtually any type of interstate real estate transactions or the use of the mails or telephone about them across state lines was proposed this month in a bill for a "Real Estate and Securities Act of 1972" authored and introduced in Congress by Representative Barry M. Goldwater, Jr., of California, and referred to the House Committee on Interstate and Foreign Commerce.

Under paragraph (f) of Section 17 of the Goldwater bill, it would become "unlawful for any person to use any means or instruments of transportation or communication in interstate commerce, or to use the mails, directly or indirectly to engage in the business of conducting appraisals of value of interests in real property or of real estate securities for another or others, for compensation or in expectation of compensation, unless such person is duly licensed as a Federal real estate appraiser under this Act and unless all other provisions of this Act are complied with." Licenses for appraisers (and under other portions of the bill for Federal real estate brokers, real estate developers investment managers, closing agents and others involved in interstate real estate or real estate securities activities) would be issued by a Federal Real Estate Commission to which also would be assigned jurisdiction over any real estate securities now subject to registration with the Securities and Exchange Commission. (From Narello News)