Honesty and Integrity: Mitchell Real Estate Appraisals
Appraising 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 certainly be called a profession as opposed to a trade. As with any profession we have a strict ethical code.
For an appraiser the primary obligation is to his or her client. Most of the time, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you want a copy of the appraisal document, you should request it from your lender. Other obligations also include, accurate calculations appropriate to the parameters of the report, attaining and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Mitchell Real Estate Appraisals.
Mitchell Real Estate Appraisals has worked hard for its reputation for performing competent and ethically superior appraisals. To learn more Contact us
Appraisers may also have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at Mitchell Real Estate Appraisals you can rest assured that we adhere to that rule.
We meet or beat the industry standards and guidelines set in place for ethics. We can't accept anything less from ourselves. Doing orders on contingency fees is never an option. 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 probably the appraisal professions most important rule, because it would invite fraudulent practices since increasing the value of the home would increase the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined 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 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," in addition to other situations We follow these rules to the letter which means you can be confident we are going above and beyond to objectively determine the home or property value.
As soon as you request an appraisal from 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.