Elite Appraisal Group maintains the highest professional ethicsAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult 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. In our field, as with any profession, we must follow strict ethical considerations.
We have a great deal of responsibilities as appraisers, but first and foremost we answer to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has retained to maintain independence. Certain matters relating to an assignment are to be discussed exclusively with the appraiser's client. So, as a homeowner, if you want to review the appraisal document, you generally have to request it from your lender instead of the appraiser.
Appraisers can also have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary role is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - something else Elite Appraisal Group takes very seriously.
We demand the highest ethical standards possible from ourselves. Working on orders based on contingency fees is not something we can consider. That means we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. Anyone should be able to see that inflating a value to achieve what amounts to a higher paycheck is unethical!
Finally, the Uniform Standards of Professional Appraisal Practice 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", or "the amount of a value opinion" in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are doing everything we can to provide an unbiased determination of the home or property value.
With Elite Appraisal Group, you won't have any doubts that you're receiving 100 percent ethical, professional service.