What are the ethical considerations and parameters for appraisers?
There are many ethical considerations and parameters for appraisers and most are covered in the Uniform Standards of Professional Appraisal Practice (USPAP). Others are universal to all professions in the civilized world or are simply common sense. A few of the more obvious ones are listed below: 1. Appraisers cannot charge a fee based on a percentage of the valuation conclusion for appraisals rendered. 2. Appraisers may act on behalf of a client in a different capacity, i.e. broker. In this capacity the appraiser is in fact a consultant and broker, not an appraiser, and his/her fees can be based on a percentage of the selling price. In this scenario, a percentage-based fee is in the best interest of both parties and acts as an incentive to achieve the best return for the client. Customarily, the buyer or vendor (auction house) of the personal property also pays the broker a small commission which acts as an incentive to encourage the broker to steer more items to the vender in the fut
Related Questions
- What are some of the ethical considerations, such as privacy and social worker/client confidentiality, I should be aware of in providing EAP counseling services?
- What are the ethical considerations of one denominational or faith SRE teacher giving students information about another denomination or faith?
- What are the ethical considerations and parameters for appraisers?
