Appraisal Ethics & Professional Standards: What You Should Know
When you order a home appraisal — whether for a divorce, estate, pre-listing, tax appeal, or any other non-lending purpose — you’re not just paying for an opinion of value. You’re hiring a licensed professional bound by strict ethical rules, standards, and qualifications designed to protect the public and ensure fairness.
At REI Valuations, we take that responsibility seriously. Here’s what you should know about appraisal ethics and regulations — and how they protect you.
USPAP stands for the Uniform Standards of Professional Appraisal Practice. It’s the official rulebook for appraisers in the U.S. — similar to a code of conduct for doctors or attorneys.
Set by the Appraisal Foundation, authorized by Congress
Updated every two years
Applies to all licensed and certified appraisers
USPAP defines how we:
Develop opinions of value
Write and present appraisal reports
Protect confidentiality
Stay independent and impartial
In short, USPAP ensures appraisers operate with integrity, objectivity, and professionalism.
Key Ethical Rules Every Appraiser Must Follow
Whether we’re valuing your home for court, tax purposes, or personal planning, we are required to:
1.
Be Independent and Unbiased
We cannot have any interest in the outcome of your appraisal. That means:
No “hitting the number” just to satisfy a party
No favoritism toward attorneys, owners, buyers, or sellers
No accepting assignments where we have a conflict of interest
2.
Maintain Confidentiality
We do not share your appraisal results or personal details with anyone other than the intended client or authorized users.
3.
Avoid Contingent Fees
We do not get paid based on the final value result. Our fees are flat and agreed upon upfront, regardless of what the home is worth.
4.
Disclose Prior Services
If we’ve appraised the same property in the past 3 years, we’re required to disclose it in the report.
5.
Comply with the Scope of Work
Every appraisal has a specific purpose — and our methods and reporting must match that scope exactly.
Standards We Follow in Every Appraisal
Objective Valuation
We give an unbiased opinion based on real data — not emotion, pressure, or client expectations.Supportable Conclusions
Every value we give is backed by clear market evidence — like comparable sales, market trends, and cost data.Clear, Compliant Reporting
Our reports meet USPAP format and content requirements, whether we’re using a URAR form or a narrative format.Legal & Ethical Accountability
We can be audited, disciplined, or lose our license for any violations of USPAP or state law.
When you hire REI Valuations, you’re not just hiring someone with experience — you’re hiring someone legally and ethically required to be fair, neutral, and professional.
Whether your appraisal ends up in court, in front of a tax board, or as part of a family estate plan, you deserve to know it was prepared under the highest standards of the profession.
