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(a) |
be aware of, understand,
and correctly employ those recognized methods and techniques that are
necessary to produce a credible appraisal;
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Comment:
This Standards Rule recognizes that the principle of change continues
to affect the manner in which appraisers perform appraisal services. Changes
and developments in the real estate field have a substantial impact on
the appraisal profession. Important changes in the cost and manner of
constructing and marketing commercial, industrial, and residential real
estate as well as changes in the legal framework in which real property
rights and interests are created, conveyed, and mortgaged have resulted
in corresponding changes in appraisal theory and practice. Social change
has also had an effect on appraisal theory and practice. To keep abreast
of these changes and developments, the appraisal profession is constantly
reviewing and revising appraisal methods and techniques and devising new
methods and techniques to meet new circumstances. 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 real property
appraisal.
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(b) |
not commit a substantial
error of omission or commission that significantly affects an appraisal;
and
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Comment:
An appraiser must use sufficient care to avoid errors that would significantly
affect his or her opinions and conclusions. Diligence is required to identify
and analyze the factors, conditions, data, and other information that
would have a significant effect on the credibility of the assignment results.
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(c) |
not render appraisal
services in a careless or negligent manner, such as by making a series
of errors that, although individually might not significantly affect the
results of an appraisal, in the aggregate affects the credibility of those
results.
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Comment:
Perfection is impossible to attain, and competence does not require perfection.
However, an appraiser must not render appraisal services in a careless
or negligent manner. This Standards Rule requires an appraiser to use
due diligence and due care. |
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