 For honest and ethical appraisals, count on Paul Hildebranski Appraisal ServiceAppraising is generally 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 have a strict ethical code.
An appraiser's primary responsibility is to their client.
Normally, for a standard 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 brought in to maintain independence.
Appraisers are typically limited to only disclosing information to their clients, so as
a homeowner, if you desire to review an appraisal report, you normally have to get it from your lender.
Appraisers can sometimes have fiduciary obligations to third parties, including homeowners, both sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary role is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - something else Paul Hildebranski Appraisal Service makes a part of their standard routine. We meet or exceed the industry standards and guidelines set in place for professional behavior. We won't accept anything less from ourselves. Doing orders where our fee is dependent on our value conclusion is never an option. In other words, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. There's certainly a conflict of interest if an appraiser can report a larger value and then get paid more money! We set ourselves to a higher standard. Finally, the Uniform Standards of Professional Appraisal Practice explicitly defines a violation in ethics 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" as well as other situations. We 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. When you engage Paul Hildebranski Appraisal Service, we'll make sure you're getting the professional service you expect along with the principles we're known for. |
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