 Honesty and Integrity: TrueValue I, Inc.Appraising is, by and large, a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
An appraiser's primary obligation is to their client.
Generally, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Appraisers are typically restricted to only disclosing information to their clients, so as
a homeowner, if you desire to review an appraisal report, you generally should get it through your lender.
Appraisers will sometimes be required to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary role is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - something else TrueValue I, Inc. makes a part of their standard routine. We meet or exceed the industry standards and rules set in place for professional behavior. We refuse to accept anything less from ourselves. Accepting assignments based on contingency fees is not something we can consider. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. There's an obvious conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice explicitly states 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 diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to get you an accurate home or property value. When you engage TrueValue I, Inc., we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for. |
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