In this episode of The Appraiser’s Advocate, host Tim Andersen, MAI explores the surprising power of uncertainty — not as a weakness, but as one of the highest professional and moral virtues. Drawing on philosophy, science, art, and real estate appraisal practice, this 12-minute reflection reveals how doubt, humility, and intellectual honesty shape better decisions and deeper trust.  Therefore, it is perfectly for an appraiser to tell the client, “The data were not very indicative of value.  Therefore, I did the best I could with what I had.”  Is this a fault?  No, it is candid honesty – a demonstration of professional integrity.

Listeners will discover why uncertainty fuels curiosity, protects integrity, and builds credibility in every field — from Socrates’ “I know that I do not know,” to the appraiser’s careful phrase, “based on available evidence.” Tim Andersen, an AQB-certified USPAP instructor, connects these timeless ideas to USPAP ethics.   This connection shows that credibility, not certainty, is the true foundation of public trust in valuation.  Public trust, and giving the public reason to trust appraisal and appraisers, is the cornerstone of real estate appraisal.

Through stories, humor, and gentle wisdom, the episode examines how uncertainty becomes the soil of all virtue: humility in knowledge, compassion in ethics, wonder in art, and transparency in professional life. Whether you’re an appraiser, educator, or lifelong learner, this episode offers encouragement to “love the questions themselves,” as Rilke advised, and to walk confidently in a world that will never be fully certain.

Since uncertainty is an integral part of the science and are of real estate appraisal, keep your E&O insurance up to date, and an Administrative Law Attorney on speed dial.

This is a powerful episode of The Appraiser’s Advocate.  In it, Timothy C. Andersen, MAI, explores what an ancient Roman legend can teach us today.  We appraisers need to practice ethics, morality, and professional courage. “Horatius at the Bridge” by Thomas Babington Macaulay tells the story of one soldier who stood alone.  His charge was to defend Rome’s bridge against invading forces. Andersen draws a striking parallel between Horatius’s moral stand and the modern residential real estate appraiser’s duty to protect the bridge of public trust.

When clients, lenders, and market pressures push for quick or biased results, the appraiser’s courage and adherence to USPAP’s Ethics Rule become acts of modern heroism. Through vivid storytelling, Andersen weaves together virtue ethics, Aristotle’s golden mean, Aquinas’s right reasoning for the right reasons, and the sacred calling of truth-telling in valuation.

Listeners will discover why each credible appraisal is a defense of market integrity. How ethical resistance protects the profession.  And why impartiality, objectivity, and independence are not just regulatory words—but moral commitments.

Join this 12-minute journey through history, philosophy, and professionalism—and rediscover why appraisers stand as the guardians of economic justice.  Make sure your E&O Insurance is up to date and you have an administrative law attorney on your speed dial!

🎧 Listen now: Horatius at the Bridge — The Ethics and Morality of Courage in Real Estate Appraisal

In this episode of The Appraiser’s Advocate, Tim Andersen, MAI, dives into a timeless question for real estate appraisers:  👉 Is market value the same as true value?  If not, what’s the difference?  Why are both important for an appraiser to know and understand?  If there is a “natural” value, is there the concept of “artificial” value?

We know market value as the benchmark in USPAP, FIRREA, and lending regulations — the most probable price a property would bring in a fair and open market. But beneath that definition lies an ethical dilemma: when the market shifts, does it still measure what’s real, or just what’s happening now?

Tim introduces the deeper idea of natural value — the intrinsic worth of property rooted in fairness, sustainability, and human flourishing. Drawing from Aristotle’s “just price,” Thomas Aquinas’s moral theology, and Adam Smith’s “natural price,” this episode compares market value’s precision with natural value’s conscience.

Using examples from the 2008 housing crash, farmland use, and the unseen value of wetlands, Tim shows how these two forms of value can drift apart — and why reconnecting them is vital to protecting public trust and ethical appraisal practice.

Whether you’re an appraiser, reviewer, attorney, or educator, this conversation will deepen your understanding of value — not just as a number, but as a moral commitment.

And as always, it pays to remember to keep your appraisal tools sharp and well-oiled.  Keep your ethics taught and properly layered.  Make sure your E&O Insurance is up to date.  And keep an administrative law attorney on speed-dial.

In the world of real estate appraisal, every professional faces a choice: are we simply hauling stones, or are we building cities? That question lies at the heart of USPAP: Stones or Cities, a reflection on why appraisers must embrace not only the technical details of valuation but also the broader ethical and professional vision that underpins public trust.

The Uniform Standards of Professional Appraisal Practice (USPAP) serve as more than a checklist; they provide the ethical scaffolding that ensures our work builds confidence in markets, lenders, and communities. Too often, appraisers view compliance as a burden — like moving rocks from one place to another. But when we see our role through the lens of purpose, transparency, and integrity, our daily tasks become part of constructing something greater: fairness in lending, justice in taxation, and confidence in real estate markets.

Dr. James Graaskamp reminded us that real estate is never merely physical; it is social, economic, and ethical. Similarly, the USPAP Ethics Rule calls us to independence, impartiality, and freedom from bias. When appraisers honor these principles, they do more than complete assignments — they help shape the cities of tomorrow.

USPAP: Stones or Cities challenges each appraiser to ask: Am I simply producing reports, or am I contributing to a just and trustworthy marketplace? The answer defines not just our careers, but the legacy of the profession itself.

By embracing a professional vision rooted in ethics, competence, and leadership, appraisers move beyond stone-hauling to city-building — ensuring that their work truly serves the public trust.

And remember to keep your E&O up-to-date and have an experienced administrative law attorney on your side!

Rollout begins September 8, 2025. Whether UAD 3.6 is a blessing or a bother depends on your practice focus. If you live on the GSE side of the house, mastering the nuances is unavoidable—and worth your time. If your work leans to estates, divorces, tax appeals, and Yellow Book assignments, you’ll encounter less immediate pressure.

In this episode of The Appraiser’s Advocate, we explain what’s changing, why software and client timelines may feel bumpy at first, and how to prepare without panic. Vendors, lenders, and AMCs are learning too; we’ll cover realistic expectations for staggered adoption so you can keep cash flow steady and clients confident.

What UAD 3.6 actually changes (dynamic report, structured data, packaging)

Who really needs it now (GSE work) vs. where it’s less urgent (non-GSE assignments)

Transition pains to expect (software readiness, lender/AMC ramp-up)

How to protect your practice (flag awareness, workflows, templates, client education)

Professional guardrails—keep ethics first, maintain E&O, and know when to call counsel

Need a hand? Email me: [email protected]

But no matter what happens, keep your ethics foremost, pay your E&O insurance premiums, have an administrative law attorney on speed dial, and contact me at [email protected] when I can be of service to you.  Thanks!

What does your signature mean?  In real estate appraisal, ethics (i.e., USPAP) and public trust form the foundation of professional credibility. This episode of The Appraiser’s Advocate emphasizes the critical importance of an appraiser’s signature, which represents not only an opinion of value but also a solemn pledge of honesty, objectivity, and compliance with the Uniform Standards of Professional Appraisal Practice (USPAP).

The discussion highlights how the appraiser’s signature is more than a procedural step. It functions as a seal of integrity, signaling to clients, lenders, courts, and the public that the report is unbiased, transparent, and free from conflicts of interest.  Just as importantly, the signature assures that you conducted the valuation process with due diligence and professional independence, protecting the broader market from misinformation and manipulation.

What does your signature mean?  This podcast reminds listeners that every appraisal carries ethical weight.  The appraiser’s signature on the Certification directly influences lending decisions, property sales, and even legal disputes. A careless or biased opinion can erode confidence in the market and damage public trust.  By contrast, a well-documented, ethically sound appraisal builds credibility, not just for the individual professional, but for the entire appraisal industry.

So, what does your signature mean?  Ultimately, this episode underscores a vital truth: an appraiser’s signature is never just ink on a page. It is a public affirmation of trustworthiness, professional standards, and moral responsibility.  For appraisers seeking to strengthen their careers, upholding ethics and protecting the public trust remain non-negotiable responsibilities.

And remember:  keep your E&O Insurance up-to-date, and an administrative law attorney on speed dial!

Why are there among our Fellows who conclude the new UAD3.6 is a terror?  It may be that it is a change from what we already know, and everybody (not just appraisers) fear changes.  Or maybe it is because this will require appraisers to learn a new “language”.  After all, what currently works in report writing will be obsolete when UAD3.6 comes out.  Or maybe it is just that appraisers think the GSEs have no call or right to meddle in what works.  Hey!  It ain’t broke, so don’t fix it.  No, it’s not broke.  But it is old and outdated.

So, to claim “UAD3.6 is a terror” may be jumping the gun a little.  Between this writing and November 2, 2026 when UAD goes into effect, there are approximately 14-months within which appraisers can learn and then conquer USD3.6.  Is there going to be some disruption of appraisal life as we know it?  Yes, of course.  Are some of our Fellows going to find this transition difficult? Surely.  Will the UAD3.6 that rolls out in September of 2025 be the same UAD3.6 that presents in November 2026?  Probably not.  So, what are we appraisers going to do?  Some will see these changes are a reason to collapse and fail.  Others will see it as an opportunity to rise to the occasion.  Really, is that not how we should all be?

So, we can collapse in tears of frustration, or triumph with tears of joy and enthusiasm.  If you think UAD3.6 is a terror you’ll be right.  And it you think it is an opportunity to excel, you’ll be right, too.

In any event, keep your E&O Insurance up-to-date, and an experienced administrative law attorney‘s number handy in your phone.  Those don’t mean you are afraid of anything.  It merely means  your wise.

What’s wrong with the supervisor/trainee model?  Nothing, other than it does not work.  Outside of that small limitation, it is entirely viable.  So, really, despite the fact that model is as old as dirt, what’s wrong with it?  If it does not work, why did the appraisal industry implement it in the first place?  Is it fixable?  If it is fixable, who is going to fix it?

What’s wrong with the residential real estate supervisor/trainee model is, in part, how it started.  Real estate appraisal has always been a cottage industry.  It was originally an offshoot of the brokerage and construction industries.  Brokers and builders were supposed to be familiar with real estate values, costs of construction, and so forth.  In 1932, when what was then known as the American Institute of Real Estate Appraisers began, almost all of its members were also brokers and builders, as well as investors.  While it had a formal Code of Ethics, as well as a formalized educational program, it had to form a plan by which to train new appraisers.  It was just accepted that the old guys would teach the new guys the practical side of real estate appraisal.

But that highlighted what was wrong with the residential real estate supervisor/trainee model.  In many cases, the old guys did know there stuff but, for various reasons, were not willing and/or able to teach it to newbies.  This is basically the problem with the system now.  Lots of schools and programs “teaching” real estate appraisal, but no practical way for newbies to enter the system.  Unfortunately, this is still the case.

Remember, whether you have 30-years experience, or are a newbie, you’ll need proper E&O insurance, as well as an administrative law attorney if you get that letter from your state.

What does appraisal’s future hold?  This is a question that comes in all the time.  Since it comes in all the time, and time is dynamic, so is the answer to the question.  Simply, we cannot have the assurance of a yes or no answer.  There are too many variables to account for.  There are too many changes we cannot see around corners we cannot imagine.  Yet, somewhere, somehow, there are among us those for whom the variables settle their flutter and corners become less opaque.  Appraisal’s friend, Craig Morley is one of those savants for whom the future is slightly less cloudy than for we mere mortals.

What does appraisal’s future hold for appraisers?  That (among others) is the question we put to Craig in this podcast.  Craig, with his usual gentle wisdom and clear eye, addressed some of these issues.  His answers will surprise some, disquiet some, enrage some, frighten some, and enlighten the rest of us.  There is no reason to chronical those answers here.  Please listen to the podcast.

And remember, you need full E&O coverage from a reputable broker, as well as a great administrative law attorney in your corner, if “that letter” ever arrives from the state appraisal board.

The reconsideration of value is a formal process.  In the Fannie Mae Selling Guide are the guidelines that allows a lender or borrower to request a review of an appraisal when relevant new information may affect the value opinion. This isn’t about disagreeing with the appraiser’s judgment.  It’s about presenting factual, material data—such as overlooked property features or newly closed comparable sales—that may not have been available during the original analysis. The appraiser then reviews this information and determines whether it justifies any change to the original value.

A reconsideration of value must be supported by specific, verifiable market data.  It cannot be based on mere dissatisfaction with the appraised value. The appraiser’s role is to assess the credibility and relevance of the submitted information. If the new data is meaningful and meets professional standards, the appraiser may issue a revised report. However, if the appraiser finds the information immaterial or redundant, the original value opinion stands.  This reinforces the objectivity and independence of the appraisal process.

The reconsideration of value request typically must be submitted within 30 days of the appraisal’s delivery.  Only the borrower can initiate it. Appraisers are prohibited from making changes based solely on client preferences or pressure. The process safeguards the reliability of valuation in mortgage lending.  It also offers a mechanism to correct genuine oversights. When properly handled, it ensures fair and accurate appraisals without compromising professional ethics or regulatory compliance.

And don’t forget to keep your E&O Insurance up to date and a great administrative law attorney on  your side!