 Appraisal Solutions Review & Consultation upholds the utmost professional ethicsWe consider what we do as a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we are bound by ethical considerations.
We have a great deal of responsibilities as appraisers, but our primary duty is to our clients.
Most of the time, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Thereon, appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you want to review the appraisal document, you normally should request it through your lender and not the appraiser.
Appraisers will often be required to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary role is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for at least five years - at Appraisal Solutions Review & Consultation you can rest assured that we adhere to that rule. Appraisal Solutions Review & Consultation holds itself to the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. Doing orders based on contingency fees is not something we can consider. That is, we don't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's certainly a conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! We set ourselves to a higher standard. Finally, the Uniform Standards of Professional Appraisal Practice also states a violation in ethics as accepting 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can be assured we are doing everything we can to objectively determine the home or property value. As soon as you request an appraisal from Appraisal Solutions Review & Consultation, we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for. |
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