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The Importance of Due Diligence and Due Care in Appraising Wednesday, April 21, 2021 in Education

My favorite part of USPAP comes directly from the Competency Rule: Perfection is impossible to attain, and competence does not require perfection. However, an appraiser must not render appraisal services in a careless or negligent manner. This Rule requires an appraiser to use due diligence and due care. (USPAP 2020-2021, lines 301-303)

Using Sales After the Effective Date as USPAP Comparables Tuesday, February 23, 2021 in Education

One of the best things about teaching Uniform Standards of Professional Appraisal Practice (USPAP) classes for ISA is that you never know what questions students will ask. At the ISA's January 13 to 14 7-Hour USPAP class an appraiser asked when it's okay to use a sale that occurred after the effective date of an appraisal as a comparable?

Do I Qualify for the ISA Specialty and Advanced Studies (SAS) Pathway? Friday, December 11, 2020 in News, Education

Do you qualify for the SAS track to achieve Accredited Member (ISA AM) status?

Ethics in Review Tuesday, October 13, 2020 in News, Education

Reviewing some basic ethics points is always a good idea. For instance, did you know that ISA recently updated its Ethics Code and Ethics Disciplinary Procedures? Do you know what type of behavior ISA regulates (and does not regulate)? What are some of the most common ethics complaints and missteps?

Coping with Bats Friday, September 11, 2020 in News, Education

Apart from the colorful depictions of coronavirus particles, with their round bodies studded with barbs, we lack any eye-catching symbols, much less positive designs which boost our spirits, to represent this endless, depressing, time. This is where bats come in.

Do Assignment Conditions Constitute a Limiting Condition? Thursday, August 20, 2020 in Education

The short answer is no. To better understand the question, let’s take a look at the 2020-2021 Uniform Standards of Professional Appraisal Practice (USPAP) definition of assignment conditions. USPAP defines Assignment Conditions as, "Assumptions, extraordinary assumptions, hypothetical conditions, laws and regulations, jurisdictional exceptions, and other conditions that affect the scope of work."

Practical Applications For Value-In-Use And Value-In-Place Thursday, July 16, 2020 in Education

When is it appropriate to use value-in-use or value-in-place? The terms can be confusing as they relate to internal relevant characteristics, or forces that effect value. Most appraisers will not have many occasions to consider value-in-use or value-in-place. However, having a good understanding of the terms and their respective uses will make it more likely that you will recognize the need for them if the opportunity arises.

Tips for Appraisal Reports During COVID-19 Thursday, April 2, 2020 in Education

Because social distancing and stay-at-home orders during the COVID-19 pandemic are making it difficult for appraisers to complete reports as normal, we have provided the below information to include in your report to acknowledge the situation.

The Uncertain Chinese Art Market Tuesday, March 10, 2020 in Education An essential part of every appraisal report is the inclusion of current art market information explaining the factors, both local and global, which can affect an appraiser's valuations. Today, uncertainty surrounds the Chinese art market because Mainland Chinese buyers who are its driving force have been affected by two major challenges: the political unrest and protests in Hong Kong and the spread of coronavirus (COVID-19). View More

Perfection is Impossible: Understanding Competence Under USPAP Tuesday, February 18, 2020 in Education When I teach ISA members on the Uniform Standards of Professional Appraisal Practice (USPAP) in the 15 Hour and 7 Hour courses, I like to stress a key point of the Competency Rule: Perfection is impossible to attain, and competence does not require perfection. View More

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