Honesty and Integrity: Diversified AppraisalWe consider what we do as a profession. Requirements to become 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 dubbed a profession as opposed to a trade. As with any profession we are bound by an ethical code.
We have a lot of responsibilities as appraisers, but first and foremost we answer to our clients.
Generally, for a normal 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 retained to maintain independence.
Certain matters relating to an assignment are to be shared with the appraiser's client. So, as
a homeowner, if you would like to obtain a copy of the appraisal document, you normally have to request it from your lender and not the appraiser.
Appraisers will sometimes be required to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary role is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - something else Diversified Appraisal takes very seriously.
We demand the highest professional integrity possible from ourselves. Working on assignments based on contingency fees is never an option. That means 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 obvious that fabricating a property's value to achieve what amounts to a higher paycheck is unethical!
Finally, the Uniform Standards of Professional Appraisal Practice explicitly defines a violation in ethics as accepting 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" in addition to other situations We follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.
With Diversified Appraisal, you won't have any doubts that you're getting 100 percent ethical, honest service.