Why is an appraiser's independence critical?

An appraiser's independence is critical because it ensures that the appraisal is unbiased and reflects the true market value of the property. When an appraiser operates independently, they are not influenced by external pressures or conflicts of interest that could skew their assessment. This objectivity is fundamental to the credibility and reliability of the appraisal report, which in turn affects decisions made by buyers, sellers, lenders, and other stakeholders in real estate transactions.

An independent appraiser adheres to the standards set by professional appraisal organizations and regulatory bodies, which mandate impartiality to maintain the integrity of the appraisal process. By providing an unbiased valuation, the appraiser instills confidence in the market and supports fair dealings in property transactions. This independence is essential not just for the individual appraisal but also for the overall trust in the real estate market.