Mitchell Real Estate Appraisals upholds the highest professional ethics
Appraising is generally a long term career. The rigors of becoming 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 called a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
For an appraiser the primary obligation is to their client. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you require to review the appraisal document, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, acquiring and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Mitchell Real Estate Appraisals, we take these ethical responsibilities very to heart.
Mitchell Real Estate Appraisals has worked hard for its track record for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will often be required to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for at least five years - something else Mitchell Real Estate Appraisals makes a part of their standard routine.
We meet or beat the industry standards and mandates set in place for professional behavior. We refuse to accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. 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 probably the appraisal industries biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 diligently 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.
With Mitchell Real Estate Appraisals, you won't have any doubts that you're getting 100 percent ethical, professional service.