If you are not competent to appraise a marina property, how should you respond to a review request for it?

The most appropriate response when faced with an appraisal assignment for a marina property, for which you lack the necessary expertise, is to notify the client of your incompetence prior to accepting the assignment. This approach aligns with the ethical standards of the appraisal profession, emphasizing the importance of integrity and transparency in client relationships.

By informing the client that you do not possess the required skills or experience to conduct the appraisal, you uphold the principle of due diligence. This commitment ensures that clients receive accurate and reliable appraisals, helping to maintain the credibility of the appraisal profession overall. Declining the assignment without prior communication could leave the client in doubt, and accepting it without the necessary knowledge would not only reflect poorly on your professional standards but could also lead to significant liability issues if the appraisal is flawed.

Involving an experienced appraiser in the process, while a viable solution, does not address the immediate need for clear communication with the client. Instead, the priority should be to ensure they are aware of your current limitations to make informed decisions about their appraisal needs. This fosters a professional relationship built on trust and clarity.