The three major personal property appraisal organizations announced an initiative to educate the public regarding meaningful qualification standards for Appraisers. The Appraisers Association of America (AAA), American Society of Appraisers (ASA) and the International Society of Appraisers (ISA), all support the effort as a needed step to improving overall appraiser professionalism and competency, and as furthering public trust in personal property appraisers.
To help guide the initiative and frame the overall scope, new mission and vision statements were developed. Leadership of the three organizations, Deborah Spanierman (AAA), Linda Trugman (ASA) and Christine Guernsey (ISA), explained in a joint statement, “Our mission is simple, to raise the public awareness of qualification standards for credentialed personal property appraisers who are members of The Appraisal Foundation sponsoring organizations”. The motivating intent behind the mission is explained through the coalition’s vision statement, “to protect the public from the risk and abuse of unqualified individuals performing personal property appraisals; to bring the Appraisal Foundation’s AQB (Appraisal Qualifications Board) standard to the forefront of public awareness; and to raise the profile of the credentialed personal property appraiser.”
In addition to adhering to a code of ethics and following the Uniform Standards of Professional Appraisal Practice (USPAP), the members of these associations earn their credentials through stringent accreditation processes, as well as completing continuing education requirements. These tough requirements provide a level of professionalism and trust that is unmatched, and ensure the public that the appraisals performed by an accredited appraiser are among the most reliable appraisals available.
All three organizations strongly urge the public to verify the educational and experiential background of an appraiser prior to retaining their services, and to be wary of red flags that indicate an appraiser may not be objective in conducting appraisals. These include charging for appraisals based on the appraised value of an item, or offering to purchase an item the appraiser has appraised. Professional, competent appraisers always conduct appraisals at “arm’s-length,” without self-interest.
Questions or requests for further information about this joint announcement may be directed to: Appraisers Association of America (212) 889-5404, American Society of Appraisers (800) 272-8258 or International Society of Appraisers (312) 981-6778.
Category: Business Finance