Defining the Appraiser’s Role in Arbitration

guest blogger bannerThe following is a guest blog by Paula K. Konikoff, JD, MAI, AI-GRS.

shutterstock_324390098Appraisers expanding their practices into the area of arbitration can expect to play one of two roles: arbitrators or expert witnesses.

They are most often engaged in arbitrations addressing rent re-sets required by ground leases, large space leases and net leases on whole properties. They can be retained as valuation experts, or they can be retained as one of or the only (sole) arbitrator.

In either case, the valuation expert is most often “acting as an appraiser” for purposes of complying with standards, either the Appraisal Institute’s Standards of Valuation Practice, or the Uniform Standards of Professional Appraisal Practice, commonly known as USPAP. This means that the valuer must comply with the ethics and competency requirements

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