Certified Residential Appraiser Practice Exam

When is it acceptable for an appraiser to adjust their fee based on the property's value opinion?

1. Only for properties selling above a certain amount

2. Never

3. When providing a detailed explanation to the client

4. Only in competitive markets

The correct answer is: Never

An appraiser must uphold ethical standards and maintain objectivity, ensuring that their fees are consistent regardless of the property's value. Charging different fees based on the property's value could lead to conflicts of interest or perceived bias, undermining the trust in the appraisal process. Uniform pricing maintains the integrity of the appraisal profession, allowing for impartial assessments of all properties, whether high-value or low-value. In contrast, options that suggest accepting increased fees based on certain conditions—like property value thresholds, competitive markets, or client explanations—imply a potential bias or influence that can compromise the appraiser's objectivity. Such practices are discouraged as they can lead to questions about the fairness and validity of the appraisal, blurring the lines of professional ethics. This is why it is essential that appraisal fees remain constant, reflecting the commitment to impartiality and professionalism in the industry.