Mitchell Real Estate Appraisals maintains the highest professional ethicsAppraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. As with any profession we must follow strict ethical considerations. We have quite a few responsibilities as appraisers but our main duty is to our clients. More often than not, in residential practice, 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 obtain a copy of an appraisal report, you should get it through your lender. Other obligations also include, accurate sums appropriate to the parameters of the assignment, reaching and sustaining a certain 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 seriously. ![]() Mitchell Real Estate Appraisals has worked hard for its track record for producing appraisals with the highest of ethics. To learn more Contact us Appraisers can regularly have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the order. Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must keep their work files for a minimum of five years - something else Mitchell Real Estate Appraisals takes very seriously. Mitchell Real Estate Appraisals holds itself to the industry standards and guidelines set in place for professional behavior. We won't accept anything less from ourselves. Working on orders that contingency fees is not something we can consider That is, we can'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 most important rule, because it would invite fraudulent practices since increasing the value of the home would increase the fee. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional organizations to which an appraiser belongs. The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are going above and beyond 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. |