![]() Robert A. Collins Appraisal Service maintains the utmost professional ethicsAppraising is, by and large, a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
We have a lot of responsibilities as appraisers, but our primary duty is to our clients.
Normally, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
It follows that appraisers are typically restricted to only disclosing information to their clients, so as
a homeowner, if you would like to obtain a copy of an appraisal report, you normally should get it through your lender and not the appraiser.
Appraisers will regularly be obligated to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary role is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for a minimum of five years - something else Robert A. Collins Appraisal Service makes a part of their standard routine. We demand the highest ethical standards possible from ourselves. Doing assignments based on contingency fees is not something we can consider. That means we can't agree to do an appraisal report and get paid only if the loan closes. There's certainly a conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice clearly describes 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", or "the amount of a value opinion" in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are working hard to objectively determine the home or property value. As soon as you engage Robert A. Collins Appraisal Service, we'll make sure you're getting the professional service you deserve along with the honesty and integrity we're known for. |