If an appraiser lacks the competency to perform an assignment and does not wish to acquire it, what must they do?

In the context of appraisal practice, competency is essential for ensuring that the appraiser can make informed and accurate evaluations. If an appraiser recognizes that they lack the necessary knowledge or skills to complete an assignment competently and does not intend to acquire that competency, the ethical and professional course of action is to decline the assignment. By doing so, the appraiser upholds the integrity of the appraisal process and protects clients, stakeholders, and the public from potential inaccuracies or misrepresentations in the appraisal outcome.

Accepting the assignment without the requisite competence could lead to subpar work and can compromise the appraiser’s credibility and professional standards. The choice to decline signifies a commitment to ethical practices, aligning with the standards set by regulatory bodies, which emphasize the importance of competency in performing appraisals.