What consequence can a broker face for accepting appraisal assignments based on predetermined values?

Accepting appraisal assignments based on predetermined values can seriously undermine the integrity of the appraisal process. The appraisal profession is built on providing unbiased and accurate valuations to ensure fairness and transparency in real estate transactions. If a broker engages in practices that compromise the independence of the appraisal, it can lead to significant penalties.

Revocation and suspension of their license is a serious consequence that may ensue because such actions violate ethical standards as well as regulatory guidelines set by real estate governing bodies. These regulations are designed to protect consumers and maintain the legitimacy of appraisals. Consequently, brokers who knowingly accept assignments with biased values are not only acting unethically but also risking their ability to operate legally in the industry.

Recognition, free consultations, and promotions are unlikely outcomes in situations where ethical breaches are identified, as they contradict the principles of accountability and responsibility that are essential in the real estate field. Instead, the focus is on maintaining the trust and reliability of professionals serving clients and the public.