 Honesty and Integrity: Premier Appraisal GroupAppraising is typically a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a lot of responsibilities as appraisers, but above everything we answer to our clients.
Typically, for a normal 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 hired in order to maintain independence.
Appraisers are privy to a lot of data, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you want to review an appraisal report, you generally should request it through your lender instead of the appraiser.
Appraisers may sometimes have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary role is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must keep their work files for at least five years - at Premier Appraisal Group you can rest assured that we abide by that rule. When creating reports, we follow the highest ethical standards possible. Accepting assignments based on contingency fees is never an option. That means 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 a definite conflict of interest if an appraiser can report an unsubstantiated value with the reward of getting paid more money! Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly states 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 be assured we are working hard to objectively determine the home or property value. When you request an appraisal from Premier Appraisal Group, 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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