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(Code of Ethics reproduced with permission from the Canadian Personal Property Appraisers Group)
Most clients are inquiring for an appraiser for the first time in their
lives, and probably won't need one again. As a result they are
interested in what's involved, e.g. is the appraisal certified or accredited, and what are the costs. Most people like to know up front what fees are involved. This varies according to:
It is the appraiser's job to set at ease the concerns of the client so there are no surprises, and the appraiser must be totally honest and up front with all these inquiries and earn the trust of the client. This is done with usually a free phone consultation or email, or a combination of both before an agreement is made and prior to inspecting the assets to be appraised by the appraiser.
They must know a full and confidential report will be completed for them that will stand the test of excellence so the client can rest assured that the appraiser will meet the highest professional standards as demanded by the organization that renews his/her qualifications annually.
A successful respected appraiser will possess the following qualities:
commonly appraised subject matter. However, unfamiliarity with
a given subject matter should not form a barrier between the appraiser and the goods to be appraised. Adequate consultations with those familiar with the subject matter, along with various techniques of price sourcing should provide the appraiser with the necessary knowledge to produce a qualified appraisal.
Generally the fee charged by an appraiser should be independent of the value of the report, i.e. the appraisal fee should not be a percentage of the appraised amount. Assessing a fee on a percentage basis may result in increased vulnerability to the appraiser in cases of litigation.
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