If an Indiana broker is asked to perform an appraisal but is aware the value is likely too low, what is the appropriate course of action?

When an Indiana broker is asked to perform an appraisal, it is essential to adhere to ethical standards and the principle of objectivity in valuation. Agreeing to conduct an appraisal without committing to a predetermined value allows the broker to maintain impartiality and provide a fair assessment based on the actual market conditions and comparable sales.

By choosing to perform the appraisal in this manner, the broker ensures that the final appraisal reflects the unbiased value of the property rather than the client's expectations. This approach aligns with industry standards and protects the broker from potential liability associated with providing a deliberately low appraisal to satisfy a client. Additionally, it preserves the integrity of the appraisal process, reinforcing the importance of accurately representing property values to avoid misleading clients and future buyers.

This choice also circumvents any pressures the broker might face regarding the desired outcome, reinforcing their role as a professional tasked with delivering truthful information, which is crucial for maintaining trust within the real estate market.

Overall, this action embodies the principle of providing a legitimate service while upholding ethical standards, ensuring that the broker acts in the best interest of all parties involved.