Anderson & Associates maintains the utmost professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become 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 considered a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
As appraisers our primary obligation is to their client. Generally, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you want a copy of an appraisal report, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, acquiring and keeping a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is just normal course of business for us at Anderson & Associates.
Anderson & Associates has an established reputation for completing competent and ethically superior appraisals. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those 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 standards outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - something else Anderson & Associates takes very seriously.
We meet or beat the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. Working on assignments that contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would invite appraisal fraud since raising the estimate of the home would raise the fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies 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 at ease knowing we are going above and beyond to objectively determine the home or property value.
When you engage Anderson & Associates 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.