As the former Chairman of the Ethics Committee for the International Society of Appraisers, I saw too many good appraisers end up in ethical and legal trouble.
In almost every case, this nasty situation could have been totally and easily avoided. The negative results cost the appraiser many hours of anguish, and too many dollars in legal fees and travel
The solution was simple and easy, but overlooked by these qualified appraisers.
Interestingly enough, the problem started BEFORE the appraisal began. In almost every case the problem could have been completely avoided if the appraiser had prepared and required an agreement, contract, or retainer letter — prior to accepting the engagement.
This type of agreement is called by many names. At our firm, National Appraisal Consultants, Leon and I call it an “Authorizations for Appraisal Service.” It sounds less formal than a contract and more formal than an agreement.
We spend a few hours talking about these agreements in our appraiser training programs, and even share a few samples for participants. A contract is also an amazingly effective marketing tool.
If you are not using a contract with every potential engagement you are asking for problems. Create one yourself, hire a lawyer, or get some of our samples and customize them for yourself.
You’ll find several examples in the NAC Appraiser’s Marketing Bootcamp-in-a-box, at www.ProfitableAppraising.com
So, whether you use ours examples, which are pre-written and ready to go, or you write your own,
promise yourself you’ll use a contract every time.
Have question? Drop me an e-mail.
I’d be delighted to hear from you.