For honest and ethical appraisals, trust Ebb and Flow AppraisalsWe think of what we do as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a lot of responsibilities as appraisers, but our main duty is to our clients.
Generally, for a standard residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It's important to know that a lot of details pertaining to an assignment are to be shared exclusively with the appraiser's client. So, as
a homeowner, if you want a copy of the appraisal document, you generally should request it through your lender instead of the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary role is limited to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else Ebb and Flow Appraisals makes a part of their standard routine. We require the highest professional integrity possible from ourselves. Accepting assignments where our fee is dependent on our value conclusion is not something we can consider. That is, we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. It should be obvious that inflating a value to achieve a bigger paycheck is unethical! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice explicitly defines 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" as well as other situations. We diligently 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. As soon as you request an appraisal from Ebb and Flow Appraisals, we'll make sure you're getting the professional service you deserve along with the honesty and integrity we're known for. |