Executive Appraisals upholds the utmost professional ethics

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 unquestionably be called a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.

We have many responsibilities as appraisers but first and foremost we answer to our clients. Normally, 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 desire to review an appraisal report, you should get it from your lender. Other responsibilities also include, accurate sums appropriate to the scope of the report, acquiring and keeping a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Executive Appraisals, we take these ethical responsibilities very seriously.

Appraisers will often be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - something else Executive Appraisals makes a part of their standard routine.

We demand the highest ethical standards possible from ourselves. Doing assignments on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional organizations that the 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," in addition to other situations We diligently follow these rules to the letter which means you can be assured we are going above and beyond to objectively determine the home or property value.

When you engage Executive 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.