What must an appraiser obtain before accepting an assignment?

An appraiser must obtain the necessary competency before accepting an assignment to ensure they can perform the appraisal competently and meet the standards set forth in USPAP (Uniform Standards of Professional Appraisal Practice). This requirement underlines the importance of an appraiser possessing the requisite knowledge, skills, and abilities specific to the market and property type involved in the assignment.

Competency involves understanding the nature of the property being appraised, the market conditions, and the appropriate methodologies needed for a credible appraisal. By confirming their competency, the appraiser demonstrates their capability to provide a reliable and accurate analysis, which is essential for maintaining professional integrity and meeting the expectations of clients and intended users.

While client approval, market analysis, and legal advice are important elements in the appraisal process, they are not prerequisites that an appraiser must secure before taking on an assignment. Focusing on competency ensures that the appraiser is well-prepared to deliver a thorough and accurate assessment.