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Code of Professional Ethics and Standards of Professional Appraisal Practice

Definition

Guidelines that govern professional real estate appraisers in the valuing of properties. These standards help make sure appraisals are done consistently and ethically, thereby protecting the consumer.

Things you need to know

The Appraisal Institute has two documents: the Code of Professional Ethics and Standards of Professional Appraisal Practice. See http://www.appraisalinstitute.org/professional-practice/ethics-and-standards/