To perform an appraisal assignment competently, an appraiser lacking experience must do what before agreeing to the assignment?

Disclosing to the client the lack of knowledge or experience is crucial for maintaining transparency and building trust in the appraisal process. This approach allows clients to make informed decisions about whether to engage the appraiser's services based on their qualifications and expertise. By openly communicating their limitations, the appraiser ensures ethical standards are upheld and mitigates the risk of liability from potential errors in the appraisal. This level of professionalism is essential in the real estate field, where clients rely heavily on the appraiser’s expertise for accurate and reliable assessments.

The act of disclosure also fosters a better working relationship, as clients may appreciate the honesty, leading them to either seek additional qualifications for the appraiser or to find another professional who possesses the necessary experience. Ultimately, this step is about safeguarding the integrity of the appraisal process and ensuring that appraisers are held to a standard that protects all parties involved.

While seeking mentorship, conducting research, or attending training sessions are all valuable actions for an appraiser looking to improve their competency, the immediate requirement before accepting an assignment is to disclose any lack of experience to ensure clarity in the client-appraiser relationship.