Code of Ethics
This Code of Ethics sets forth ethical principles for the online appraising profession. Members of this profession are responsible for maintaining and promoting ethical practice. This Code of Ethics, adopted by the Association of Online Appraisers, shall be binding on appraisers who are members of the Association.
Each member of the Association of Online Appraisers recognizes the precepts of personal integrity and professional competence as fundamental ethics, and as such he/she:
- SHALL always conduct himself/herself in a responsible and professional manner and utilize fair and equitable business practices when dealing with his/her employer, colleagues, clients and associates, and when performing appraisals or rendering appraisal reports;
- SHALL encourage and promote the highest level of ethical and professional conduct within the appraisal profession;
- SHALL recognize and discharge his/her responsibility to uphold all laws and regulations governing the policies and activities of the appraisal profession; 0
- SHALL write online appraisal reports in conformance with The Appraisal Foundation's Uniform Standard of Professional Appraisal Practice (USPAP) and the AOA Online Appraisal Report Writing Standard.
- SHALL base opinions of value on factual information known at the time of the appraisal, and SHALL offer only opinions which are objective, impartial and unbiased.
- SHALL decline those assignments in which the appraiser has a bias for the client or employer, or for the items being appraised;
- SHALL undertake only those assignments for which he/she is competent by virtue of his/her training and experience, and where warranted, SHALL engage or advise the engagement of such specialists as are required to enable him/her to properly complete assignments;
- SHALL decline those online appraisal assignments in which issues exist which prevent a non-misleading opinion from being developed such as questions pertaining to identity, age, condition or authenticity;
- SHALL decline those online appraisal assignments in which potential value levels are so great as to warrant, in the appraiser's opinion, personal inspection by a qualified appraiser;
- SHALL have no undisclosed past, present or contemplated future financial interest in the property that is the subject of this report, and no undisclosed personal interest with respect to the parties involved;
- SHALL indicate in the report any limiting conditions experienced and extraordinary assumptions being made upon which the opinion or value conclusions are based;
- SHALL note in the appraisal report whether the appraiser did or did not personally inspect the property that is being appraised;
- SHALL indicate in the report that an appraisal based on the use of photographs and/or digital images is not as reliable as an appraisal based on the appraiser's personal inspection of the property;
- SHALL indicate in the report how or by whom the online appraisal may be used;
- SHALL indicate in the report the objective of the online appraisal, e.g. to determine market value or replacement value;
- SHALL protect to the fullest extent possible, consistent with the well-being of the public, any information given him/her in confidence by an employer, client, colleague or member of the public;
- SHALL refrain from making unjustified statements or from performing unethical acts which would discredit the Association or any of its members;
- SHALL strive to maintain his/her proficiency by updating his/her appraisal knowledge and skills as required to professionally perform as an online appraiser of personal property;
- SHALL comply with the provisions of this CODE OF ETHICS.
Members who are suspected of violating this Code of Ethics may face disciplinary action.