What is the appraiser's ethical responsibility?

The appraiser's ethical responsibility centers on providing an unbiased, honest, and accurate appraisal. This principle is crucial in maintaining the integrity of the appraisal process and ensuring that all stakeholders – including buyers, sellers, and lenders – can trust the information provided.

An unbiased appraisal means that the appraiser must remain impartial, free from any conflicts of interest, and should not let personal interests or external pressures influence their findings. Honesty is paramount, as appraisers are expected to provide truthful representations of market conditions, property values, and relevant data. Accuracy is equally important, as appraisals influence significant financial decisions; thus, precision in methodology and reporting is essential.

Adhering to this ethical standard helps protect the interests of clients and the public, ensuring that real estate transactions are based on reliable information. This commitment to ethical practice upholds the reputation of the profession and reinforces trust in the valuation process.