This text of Iowa § 543D.18 (Standards of practice) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1.A certified real estate appraiser shall comply with the uniform appraisal standards
adopted under this chapter. The reliance of the public in general and of the financial
business community in particular on sound, reliable real estate appraisal practices imposes
on persons engaged in the practice of real estate appraising as certified real estate appraisers
or as registered associate real estate appraisers certain obligations both to their clients and
to the public. These obligations include the obligation to maintain independence in thought
and action, to adhere to the uniform appraisal standards adopted under this chapter, and
to maintain high standards of personal conduct in all matters impacting one’s fitness to
practice real estate appraising. A certified real estate appraiser and
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1. A certified real estate appraiser shall comply with the uniform appraisal standards
adopted under this chapter. The reliance of the public in general and of the financial
business community in particular on sound, reliable real estate appraisal practices imposes
on persons engaged in the practice of real estate appraising as certified real estate appraisers
or as registered associate real estate appraisers certain obligations both to their clients and
to the public. These obligations include the obligation to maintain independence in thought
and action, to adhere to the uniform appraisal standards adopted under this chapter, and
to maintain high standards of personal conduct in all matters impacting one’s fitness to
practice real estate appraising. A certified real estate appraiser and a registered associate
real estate appraiser acting under the direct supervision of a certified real estate appraiser
shall perform all appraisal assignments in an honest, disinterested, and impartial manner,
with objectivity and independence, and without accommodation to the personal interests or
objectives of the appraiser, the client, or any third person.
2. A certified real estate appraiser shall not accept an appraisal assignment or a fee for
an appraisal assignment if the employment itself is contingent upon the appraiser reporting
a predetermined estimate, analysis, or opinion or if the fee to be paid is contingent upon
the opinion, conclusion, or valuation reached, or upon the consequences resulting from the
appraisal assignment.
3. A certified real estate appraiser may provide specialized services to facilitate the
client’s or employer’s objectives. Specialized services shall not be communicated as a
certified appraisal or as a certified appraisal report. Regardless of the intention of the client
or employer, if the appraiser would be perceived by third parties or the public as acting
as a disinterested third party in rendering an unbiased analysis or opinion or conclusion,
the work is an appraisal assignment rather than an assignment for specialized services.
Communication of a valuation under oath is an appraisal assignment.
4. A certified real estate appraiser who enters into an agreement to perform specialized
services may be paid a fixed fee or a fee that is contingent on the results achieved by the
specialized services.
5. If a certified real estate appraiser enters into an agreement to perform specialized
services for a contingent fee, this fact shall be clearly stated in each written and oral report.
In each written report, this fact shall be clearly stated in a prominent location in the report,
each letter of transmittal, and the certification statement made by the appraiser in the report.
6. A certified real estate appraiser making a significant contribution to the valuation or
analysis process in completing an appraisal assignment shall sign the final written report or
acknowledge the appraiser’s contribution in a verbal report.
7. A certified real estate appraiser who receives significant real property appraisal
assistance in the development or reporting of an appraisal assignment shall disclose such
assistance in accordance with the uniform appraisal standards adopted under this chapter.