Increasing the Role of Self-Regulatory Organizations in the Development of the Valuation Services Market through the Activities of Appraisers

This article explores the role and significance of self-regulatory organizations (SROs) in enhancing the activities of appraisers and developing the valuation services market in the context of New Uzbekistan. Amid the country’s ongoing economic reforms, increasing demand for property valuation services, and the need for an investor-friendly climate, the regulation of appraisers through an SRO framework is becoming increasingly relevant. The article emphasizes the necessity of implementing professional standards, ensuring the competence and integrity of appraisers, and fostering a transparent and competitive valuation industry. The article analyzes the legal framework surrounding SROs, their main tasks and responsibilities, such as appraiser certification, professional ethics enforcement, standardization of valuation methodologies, and ongoing professional development. Furthermore, it examines how SROs can serve as an intermediary between appraisers and the state, improving accountability and creating a unified, trustworthy professional community. Comparative analysis with international best practices, particularly in developed countries, illustrates how strong SRO systems contribute to investor confidence, fair property transactions, and a robust market infrastructure. The article also outlines current challenges in Uzbekistan, such as inconsistencies in appraiser qualifications, lack of standardized valuation approaches, and limited collaboration with public institutions.Based on this analysis, several practical recommendations are presented to strengthen the role of SROs in Uzbekistan. These include introducing mandatory SRO membership for appraisers, creating a national electronic registry of certified appraisers, enhancing ethics and competence exams, and fostering greater integration with public and financial institutions. Ultimately, the development of a strong self-regulatory ecosystem is proposed as a key component in supporting the broader economic transformation of New Uzbekistan.