Ethics, Standards and Professional Practice

The Code of Professional Ethics is composed of the Canons, Ethical Rules, and Explanatory Comments. 

» Download a copy of the Code of Professional Ethics

The Standards of Professional Appraisal Practice are composed of:

• The Uniform Standards of Professional Appraisal Practice (USPAP), promulgated by the Appraisal Standards Board (ASB) of The Appraisal Foundation;
  or The International Valuation Standards (IVS), promulgated by the International Valuation Standards Committee (IVSC) and applicable national Standards;

and

• The Certification Standard of the Appraisal Institute

» Learn more about the Standards of Professional Appraisal Practice

The Appraisal Institute has also issued Guide Notes that provide guidance on how the Standards of Professional Appraisal Practice may apply to specific issues.

» Learn more about the Guide Notes to the Standards of Professional Practice

Each Appraisal Institute Member, Candidate, Practicing Affiliate and Affiliate must comply with the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, which establish requirements not only for appraisal, appraisal review, and appraisal consulting services, but also for real property consulting services.

These obligations exceed those imposed on state certified and licensed real estate appraisers and distinguish Appraisal Institute Members, Candidates, and Practicing Affiliates in the marketplace.

If a Member, Candidate, Practicing Affiliate or Affiliate fails to comply with the Code of Professional Ethics or Standards of Professional Appraisal Practice, he or she will be subject to disciplinary or remedial action under Regulation No. 6 of the Appraisal Institute.

» Learn more about AI Standards and Ethics enforcement procedures

The commitment of Appraisal Institute Members, Candidates, Practicing Affiliates and Affiliates to professionalism extends to helping ensure that other Members, Candidates, Practicing Affiliates and Affiliates understand and comply with the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute.

Each Member, Candidate, Practicing Affiliate and Affiliate of the Appraisal Institute has a responsibility to provide the Appraisal Institute with any significant factual information that reasonably suggests that another Member, Candidate, Practicing Affiliate or Affiliate may have violated the Code of Professional Ethics or Standards of Professional Appraisal Practice.  Referrals can also be made by members of the public who are not affiliated with the Appraisal Institute.

» File a complaint

Each Member also has a responsibility to volunteer to serve on peer review committees reviewing possible violations under Regulation No. 6 of the Appraisal Institute.

» Learn more about volunteer opportunities in peer review