Honesty and Integrity: Appraisal***

Appraising is, by and large, a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we are bound by an ethical code.

For an appraiser the chief responsibility is to their client. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you desire a copy of the appraisal document, you should request it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Appraisal***, we take these ethical responsibilities very seriously.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - at Appraisal*** you can rest assured that we abide by that rule.

When creating reports, we follow the highest ethical standards possible. Working on orders that contingency fees is never an option. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior as the acceptance of an assignment that is contingent on "the reporting of a pre-determined result (e.g., opinion of value)," "a direction in assignment results that favors the cause of the client," "the amount of a value opinion," in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.

When you request an appraisal from Appraisal*** we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.