Honesty and Integrity: Appraisal Connection

Typically, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.

As appraisers our chief obligation is to his or her client. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want to review the appraisal document, you generally have to obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, acquiring and maintaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is just normal course of business for us at Appraisal Connection.

Appraisers may also have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Appraisal Connection you can rest assured that we adhere to that rule.

We only perform to the highest ethical standards possible. We don't do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite appraisal fraud since increasing the estimate of the home would increase the their paycheck. We don't do that. Other improper practices may be established by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," "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 going above and beyond to objectively determine the home or property value.

When you order an appraisal from Appraisal Connection 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.