On Monday, May 4, presidents of the three organizations released a joint statement to the media saying:
“We are proud to stand together, creating a circle of trust to protect the public by upholding the values, ethics, and credentials of each of our organizations through a demanding credentialing processes that includes training and testing of all members on valuation theory, professional methodologies, and product knowledge.”
ISA's participation in this effort has been endorsed by its Board of Directors as consistent with our mission: Advancing excellence in the personal property appraisal profession, and strategic goal of building ISA's industry standing through relationships with allied professionals.
The Appraisal Foundation estimates that approximately 80% of personal property appraisals are currently performed by individuals held to no standard of professional accountability. The intention of the "Circle of Trust" alliance is to collaborate on issues of importance to our industry and to promote public awareness and trust in our credentials.
In the press release, the three organizations strongly urge the public to verify the educational and experiential background of any appraiser prior to retaining their services and to be wary of red flags that indicate an appraiser may not be objective in conducting appraisals. These including charging for appraisals based on the appraised value of an item, or offering to purchase an item the appraiser has appraised.
ISA is proud of this ground-breaking partnership with our peer organizations, and looks forward working together to further this important initiative.
Read the full press release.