AppraisalWorks maintains the utmost professional ethics

We consider our what we do a profession. 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. As with any profession we must follow strict ethical considerations.

For an appraiser the chief responsibility is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want to obtain a copy of the appraisal document, you should get it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and keeping an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at AppraisalWorks, we take these ethical responsibilities very to heart.

Appraisers may also have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary roll is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.

There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - at AppraisalWorks you can rest assured that we stick to that rule.

We meet or beat the industry standards and mandates set in place for professional behavior. We won't accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we are not able to 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 professions biggest taboo, because it would invite fraudulent practices since increasing the estimate of the home would raise the fee. We don't do that. Other unprofessional practices may be defined by state law or professional societies that the 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," in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value.

As soon as you engage AppraisalWorks we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.