Question:

The Management section of the ETHICS RULE requires an appraiser to disclose …fees, commissions, or things of value… paid in connection with the procurement of an assignment.  If a referral fee was paid in conjunction with an assignment, must the amount of the fee be disclosed, or is it sufficient to simply disclose that a fee was paid?

Response:

Disclosing the fact that a payment was made in the appraisal certification and any transmittal letter where the conclusions are stated is sufficient to meet the requirement. However, this is a minimum requirement and does not prohibit full disclosure of the amount of the fee.