543D.18 Standards of practice. 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 imposeson persons engaged in the practice of real estate appraising as certified real estate appraisersor as registered associate real estate appraisers certain obligations both to their clients andto the public. These obligations include the obligation to maintain independence in thoughtand action, to adhere to the uniform appraisal standards adopted under this chapter, andto maintain high standards of personal conduct in all matters impacting one’s fitness topractice real estate appraising. A certified real estate appraiser and a registered associatereal estate appraiser acting under the direct supervision of a certified real estate appraisershall perform all appraisal assignments in an honest, disinterested, and impartial manner,with objectivity and independence, and without accommodation to the personal interests orobjectives of the appraiser, the client, or any third person. 2. n honest, disinterested, and impartial manner,with objectivity and independence, and without accommodation to the personal interests orobjectives 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 reportinga predetermined estimate, analysis, or opinion or if the fee to be paid is contingent uponthe opinion, conclusion, or valuation reached, or upon the consequences resulting from theappraisal 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 clientor employer, if the appraiser would be perceived by third parties or the public as actingas 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. nbiased 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 thespecialized 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 oracknowledge 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 ribution 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 suchassistance in accordance with the uniform appraisal standards adopted under this chapter. 89 Acts, ch 290, §18CS89, §117B.18C93, §543D.182007 Acts, ch 72, §3, 4Referred to in §543D.18A, 543E.8, 543E.14, 543E.15 Sat Dec 23 01:46:13 2023 Iowa Code 2024, Section 543D.18 (18, 0)
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