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One of the keys to wearing multiple hats is to always make sure the client understands what hat you are wearing when working with them. This is why a realtor should not do any BPO's(broker price opinion) because you do not want the client thinking that you are performing an appraisal, when your not. When you hold an appraisal license your work must meet certain ethics and standards per "USPAP", The Uniform Standards of Professional Appraisal Practice. So yes, as long as you explain to the client. There  needs to be a clear understanding when a real estate agent is acting as an appraiser.