In the context of appraisal, what does "communication" refer to?

In the context of appraisal, "communication" refers specifically to the transmission of the appraiser’s opinions and conclusions. This encompasses not just the delivery of the final appraisal report, but also includes the underlying thought process and rationale that the appraiser employs to arrive at their final opinion of value. Effective communication ensures that the intended audience, typically clients or stakeholders, fully understands the appraiser’s insights, methods, and conclusions based on the data analyzed.

The role of communication is crucial in the appraisal process, as it establishes clarity and transparency regarding the appraiser's methodologies, the data considered, and how those elements led to the final valuation. This type of communication also plays an important part in maintaining the integrity of the appraisal profession, fostering trust between appraisers and clients, and upholding ethical standards.