![]() For honest and ethical appraisals, count on ADB Properties, Inc.We consider our job as a profession. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can definitely be considered a profession rather than a trade. As with any profession we have a strict ethical code.
We have a great deal of responsibilities as appraisers, but above everything we answer to our clients.
Typically, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Subsequently, appraisers are privy to a lot of data, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you would like to obtain a copy of an appraisal report, you normally have to obtain it via your lender.
Appraisers will often be obligated to consider the interests of third parties, including homeowners, sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary role is limited 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 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 - at ADB Properties, Inc. you can rest assured that we stick to that rule. When creating reports, we follow the highest ethical standards possible. Accepting assignments based on contingency fees is never an option. In other words, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. It should be apparent to anyone that inflating a value to achieve essentially a bigger paycheck is unethical! We set ourselves to a higher standard. Finally, the Uniform Standards of Professional Appraisal Practice explicitly describes 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 assured we are working hard to get you an accurate home or property value. When you request an appraisal from ADB Properties, Inc., we'll make sure you're getting the professional service you expect along with the honesty and integrity we're known for. |