Honesty and Integrity: Mitchell Real Estate Appraisals
We think of what we do as a profession. The rigors of becoming 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 certainly be considered a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have a lot of obligations as appraisers but our main duty is to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you would like to review an appraisal report, you should get it through your lender. Other obligations also include, accurate calculations appropriate to the nature of the report, acquiring and keeping a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at Mitchell Real Estate Appraisals.
Mitchell Real Estate Appraisals has an established track record for producing competent and ethically superior appraisals. To learn more Contact us
Appraisers can also have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - at Mitchell Real Estate Appraisals you can rest assured that we stick to that rule.
We demand the highest ethical standards possible from ourselves. Working on orders that contingency fees is never an option. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would tend to make appraisers inflate 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 a violation in ethics 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 doing everything we can to objectively determine the home or property value.
When you engage Mitchell Real Estate Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.