Appraisal Expediters upholds the highest professional ethicsWe consider our our business a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession rather than a trade. As with any profession we have a strict ethical code. For an appraiser the main obligation is to their client. Normally, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to obtain a copy of an appraisal report, you generally have to request it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and keeping a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Appraisal Expediters, we take these ethical responsibilities very to heart. ![]() Appraisal Expediters has worked hard for its track record for providing competent and ethically superior appraisals. Contact us today to learn more. There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary roll is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job. Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - something else Appraisal Expediters takes very seriously. Appraisal Expediters holds itself to the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. We don't do assignments on contingency fees. That is, we don't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be established by state law or professional societies that the 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 working hard to objectively determine the home or property value. When you engage Appraisal Expediters 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. |