If an appraiser has appraised a property multiple times within the last three years, what must he disclose to a prospective client?

When an appraiser has conducted multiple appraisals on the same property within the last three years, it is important for them to disclose the number of times they have appraised that property to a prospective client. This disclosure is critical as it provides transparency and serves to manage conflicts of interest or perceptions of bias. Repeated appraisals may indicate a closer relationship with the property that could influence the objectivity of the appraiser's work.

Disclosing the number of appraisals helps prospective clients understand the appraiser's familiarity with the property and its history, enabling them to make informed decisions. It is a matter of professional ethics and standards that appraisers maintain clarity about their previous engagements to uphold the integrity of their valuation.

While other options may seem relevant in different contexts, such as the value from the last appraisal or costs incurred, they do not directly address the necessity of transparency regarding the frequency of valuations, which is a crucial aspect of the appraiser’s ethical obligation to provide full disclosure.