For honest and ethical appraisals, count on Appraisal Consulting GroupWe think of our business as 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 certainly be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.
We have a great deal of obligations as appraisers, but our main duty is to our clients.
Normally, for a standard 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 contracted in order to maintain independence.
It follows that appraisers are typically limited to only disclosing information to their clients, so as
a homeowner, if you would like a copy of an appraisal report, you normally have to request it via your lender and not the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary role is only to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - at Appraisal Consulting Group you can rest assured that we adhere to that rule.
We meet or exceed the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. Doing assignments where our fee is dependent on our value conclusion is never an option. In other words, we don't 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 a larger value with the reward of getting paid more money!
Finally, the Uniform Standards of Professional Appraisal Practice clearly describes 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 follow these rules to the letter which means you can rest easy knowing we are doing everything we can to get you an accurate home or property value.
With Appraisal Consulting Group, you can be assured of 100 percent ethical, honest service.