Smithval Appraisal Standards
All appraisals and consulting reports prepared by Smithval are meticulously developed to meet the specific requirements of each client engagement. Our Certified General Real Estate Appraisers exceed State and Federal regulations for standards and procedures to produce timely, objective, supportable, and coherent reports. Every report is upheld to the Code of Professional Ethics.
Smithval is committed to the highest standards of ethical appraisal practice. We are dedicated to providing our clients with the most accurate and reliable real estate valuations available. Our appraisers are highly trained and experienced professionals who adhere to the strictest ethical standards in the industry.
Governing Bodies upholding Ethical Real Property Valuation
The Appraisal Foundation
Recognized by Congress as the source of appraisal standards and qualifications for appraisers, the Appraisal Foundation is a not-for-profit organization established in 1987 to promote professionalism in the appraisal profession.
Appraisal Foundation Publications:
Uniform Standards of Professional Appraisal Practice (USPAP)
- Ethical and Performance Standards for appraisal practice in the United States
- Requirements for appraisers in all discliplines, for all types of appraisal services, including real property valuations.
- Uphold and Maintain Public Trust by requiring compliance for state-licensed and state-certified appraisers involved in federally-related real estate transactions.
Uniform Appraisal Standards for Federal Land Acquisitions (Yellow Book)
- Provides guidance for appraising real property in federal land acquisitions.
- Promotes fairness, uniformity, and end-to-end integrity in federal land acquisition valuations.
- Assists in determining just compensation for real property acquired by the federal government
The Appraisal Institute
The Appraisal Institute is a global professional association for real estate appraisers. It provides education for its members, as well as member advocacy and professional development resources. It's members are committed to upholding high standards of ethics and practice in the field of real estate valuation.
Appraisal Institute Publications:
Code of Professional Ethics and Standards of Professional Appraisal Practice
- Act with Integrity: Maintain Objectivity, Impartiality, and Strict Confidentiality in valuations.
- Meet High Standards: Follow rigorous guidelines for Conducting and Reporting Real Property Appraisals.
- Uphold Public Trust: Provide Credible and Unbiased Real Property Valuations.