What should an appraiser do if they have a conflict of interest in an assignment?

When an appraiser encounters a conflict of interest in an assignment, the most appropriate course of action is to decline the assignment. A conflict of interest can compromise the objectivity and integrity of the appraisal process. The Uniform Standards of Professional Appraisal Practice (USPAP) emphasizes the importance of impartiality and independence in maintaining the credibility of appraisal results.

By declining the assignment, the appraiser upholds ethical standards and protects the interests of all parties involved. This course of action not only prevents potential bias that may arise from the conflict but also helps maintain the overall trust in the appraisal profession. Addressing conflicts transparently by refusing assignments that may compromise ethics is essential for safeguarding the integrity of appraisals and ensuring that market participants can rely on appraisals to be without bias or undue influence.