![]() Appraisal Evaluation Technical Services, Inc. upholds the utmost professional ethicsBy and large, appraising is a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
The appraiser's chief responsibility is to their client.
Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has retained to maintain independence.
Consequently, appraisers have certain duties of confidentiality to their clients, plus strict rules and regulations controlling with whom we share information. As
a homeowner, if you would like a copy of the appraisal document, you generally have to obtain it from your lender and not the appraiser.
Appraisers can often have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - something else Appraisal Evaluation Technical Services, Inc. makes a part of their standard routine. Appraisal Evaluation Technical Services, Inc. holds itself to the industry standards and guidelines set in place for professional behavior. We can't accept anything less from ourselves. Working on assignments where our fee is dependent on our value conclusion is never an option. In other words, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's an obvious conflict of interest if an appraiser can report a greater value with the reward of getting paid more money! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly 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", or "the amount of a value opinion" in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value. As soon as you request an appraisal from Appraisal Evaluation Technical Services, Inc., we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for. |