Misuse of Terms “USPAP Certified Appraiser” and “USPAP Certified Appraisals” Threatens Public Trust
(by David Maloney) There appears to be a growing use by appraisers of two USPAP-related terms which might be construed as being misleading, thus this caution.
In the first instance, an appraiser refers to him or herself as being a “USPAP Certified Appraiser.” In the second case, the appraiser states that he or she offers “USPAP Certified Appraisals.”
According to John Brenan, Director of Research and Technical Issues at The Appraisal Foundation, “The Appraisal Foundation does not certify appraisals or appraisers.” This alone should give one pause for using the two questionable terms, but there are additional reasons as well.
The Ethics Rule of USPAP prohibits advertising in a “false, misleading or exaggerated manner.” Doing so, of course, endangers public trust in the appraisal profession — and recall that maintaining the public’s trust is the primary reason for the development of USPAP in the first place. In addition, during deposition or testimony the opposing attorney might take an appraiser to task for promoting him or herself as being a “USPAP Certified appraiser” or offering “USPAP Certified appraisals” when The Appraisal Foundation itself has stated that no such type of appraisers or appraisals exist.