Honesty and Integrity: Advantage Appraisal Services, LLC
We think of what we do as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be called a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
For an appraiser the chief obligation is to their client. More often than not, 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 keeping many matters private for their clients a homeowner, if you want to obtain a copy of the appraisal document, you generally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, attaining and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Advantage Appraisal Services, LLC, we take these ethical responsibilities very to heart.
Advantage Appraisal Services, LLC has worked hard for its reputation for performing competent and ethically superior appraisals. To learn more Contact us
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else Advantage Appraisal Services, LLC takes very seriously.
We meet or beat the industry standards and guidelines set in place for professional behavior. We refuse to accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unethical 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 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," as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are working hard to provide an unbiased determination of the home or property value.
When you engage Advantage Appraisal Services, LLC we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.