If a Trainee Appraiser has provided prior real estate brokerage services on a subject property, does USPAP require disclosure in the report?

In the context of USPAP (Uniform Standards of Professional Appraisal Practice), the requirement for disclosure involving prior real estate brokerage services hinges on the appraiser's judgment about the necessity of such disclosure in relation to the specific situation at hand.

The correct answer is justified because USPAP emphasizes transparency and integrity in the appraisal process. If a Trainee Appraiser has been involved in brokerage services related to the property being appraised, they must evaluate whether this prior involvement could influence the appraisal or affect the client's perception of objectivity. It's not an automatic requirement for disclosure, as it depends on the appraiser's assessed relevance of this information to the assignment.

The appraiser should consider the specific circumstances—such as the nature and extent of the prior services—to determine if the disclosure is warranted to maintain credibility and manage potential conflicts of interest. This aligns with the principle of full disclosure where the appraiser's impartiality and integrity are essential to uphold the appraisal's credibility.

In summary, the requirement for disclosure is contingent upon the appraiser's professional judgment, ensuring that any potential bias is addressed only when it is deemed significant to the assignment. This approach fosters a balanced consideration of facts without imposing unnecessary disclosure burdens when the prior service may not impact the appraisal outcome.