According to Standard 1 of the Uniform Standards of Professional Appraisal Practice, what must an appraiser identify?

An appraiser must identify the client and other intended users of the appraisal according to Standard 1 of the Uniform Standards of Professional Appraisal Practice (USPAP). This requirement ensures that the appraiser is clearly aware of who will be relying on the appraisal results, which is crucial for several reasons. First, it helps to establish the scope of the appraisal and the purpose for which it is being conducted. Understanding the client's needs allows the appraiser to tailor the approach and analysis accordingly, ensuring that the final report provides relevant and useful information.

Identifying the intended users also plays a critical role in determining the level of detail and the specific criteria that need to be addressed in the appraisal report. For instance, individuals or entities with different interests, such as lenders, buyers, and investors, may require varying perspectives on property value based on their unique objectives. Therefore, this element of identification fosters accountability and transparency in the appraiser's work.

The other options listed do not align with the primary focus of Standard 1. While knowledge of the total years of property ownership, profit margins, or current market conditions might be important in certain circumstances, these aspects do not constitute the foundational requirement of identifying the client and intended users that is central to proper appraisal practice as outlined