Alaska Real Estate Appraisal maintains the highest professional ethics
We think of our job 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 certainly be considered a profession as opposed to a trade. As with any profession we have a strict ethical code.
The appraiser's main responsibility is to their client. More often than not, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you want to obtain a copy of an appraisal report, you generally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and sustaining a respectable 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 Alaska Real Estate Appraisal.
Alaska Real Estate Appraisal has an established track record for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will frequently need to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters 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 Alaska Real Estate Appraisal diligently adheres to.
Alaska Real Estate Appraisal holds itself to the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. Working on orders that contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions biggest no-no, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that. Other improper practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 assured we are working hard to provide an unbiased determination of the home or property value.
As soon as you engage Alaska Real Estate Appraisal 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.