Honesty and Integrity: AAA Appraisal, Inc.

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.

We have a great deal of obligations as appraisers but our primary duty is to our clients. Generally, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire a copy of an appraisal report, you should request it from your lender. Other responsibilities also include, accurate calculations appropriate to the parameters of the report, acquiring and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at AAA Appraisal, Inc., we take these ethical responsibilities very seriously.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - something else AAA Appraisal, Inc. makes a part of their standard routine.

We meet or beat the industry standards and rules set in place for professional behavior. We refuse to accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we can't 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 industries biggest no-no, because it would invite fraudulent practices since raising the estimate of the home would increase the their paycheck. We don't do that. Other improper practices may be established by state law or professional organizations to which an 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," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.

As soon as you request an appraisal from AAA Appraisal, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.