Why must appraisers exercise independence in their work?

Appraisers must exercise independence in their work primarily to maintain objectivity and credibility in the appraisal process. Independence ensures that appraisers deliver unbiased opinions of value based solely on their professional judgment and the facts of the property and market conditions. By detaching themselves from outside influences—such as personal relationships, client pressures, or market trends—appraisers can provide a truthful and accurate assessment of the property's worth. This objectivity is crucial because the value reported can significantly affect financial decisions for buyers, lenders, and investors. Independence in the appraisal process bolsters the overall integrity of the real estate market and upholds the trust placed in appraisers by various stakeholders.