APPRAISERS AND THEIR PRACTICE

It has been a few days since I've posted because I am in Atlanta getting tested on Uniform Standards of Professional Appraisal Practice (USPAP). Although my head is spinning from all of the rule changes and updated information I really feel like I have learned a lot that will benefit my clients. USPAP can be confusing but it is really a comprehensive guide for appraisers (both for personal property and real estate). By December all personal property appraisers will have to take the test.

Although it would be impossible to discuss everything in USPAP, I thought it might be interesting for readers to see a few issues appraisers will be thinking about this year. In Standards rule 7-1, lines 1721-1723 state, "For this reason, it is not sufficient for appraisers to simply maintain the skills and the knowledge they possess when they become appraisers. Each appraiser must continuously improve his or her skills to remain proficient in peronsal property appraisal." I improve my skills in many ways including writing for this blog. In order to stay current and interesting, I am constantly researching the marketplace and writing about it.

It might also interest you to know that according to the ethics rules of USPAP "an appraiser must protect the confidential nature of the appraiser-client relationship." If an attorney requests a copy of the appraisal and they have not been named in the appraisal and the client has not given their permission, then the appraiser should not pass along the report. The appraiser should also not discuss the client's work with collectors, auctions houses, or even family members without the permission of the client. Of course, permission is often needed to complete research but this is something the appraiser and the client will need to discuss.

To find out more about USPAP click here.