Honesty and Integrity: Adrian Real Estate Appraisal

Generally, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.

As appraisers our primary responsibility is to his or her client. More often than not, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you require to obtain a copy of an appraisal report, you should get it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and keeping an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Adrian Real Estate Appraisal.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted 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 clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Adrian Real Estate Appraisal makes a part of their standard routine.

Adrian Real Estate Appraisal holds itself to the industry standards and rules set in place for ethics. We won't accept anything less from ourselves. Working on orders that contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would invite fraudulent practices since raising the value of the home would raise the their paycheck. We set ourselves to a higher standard. Other improper practices may be established by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 going above and beyond to provide an unbiased determination of the home or property value.

As soon as you request an appraisal from Adrian 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.