Anderson & Associates maintains the highest professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age 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.
We have many obligations as appraisers but our main duty is to our clients. Generally, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you want to review the appraisal document, you normally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Anderson & Associates, we take these ethical responsibilities very to heart.
Anderson & Associates has an established reputation for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes be required to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - something else Anderson & Associates makes a part of their standard routine.
Anderson & Associates holds itself to the industry standards and mandates 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 probably 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 societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "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.
With Anderson & Associates, you won't have any doubts that you're receiving 100 percent ethical, honest service.