![]() For honest and ethical appraisals, rely on Turley Appraisal ServiceWe think of our job as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.
An appraiser's primary responsibility is to their client.
Typically, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It's important to know that a lot of elements relating to an assignment are to be shared with the appraiser's client. As
a homeowner, if you want to review an appraisal report, you normally should obtain it from your lender and not the appraiser.
Appraisers can often have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those third 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 at least five years - at Turley Appraisal Service you can rest assured that we abide by that rule. We meet or exceed the industry standards and guidelines set in place for ethics. We won't accept anything less from ourselves. Accepting orders based on contingency fees is not something we can consider. In other words, we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. Anyone should be able to see that inflating a value to achieve essentially a higher fee is unethical! Finally, the Uniform Standards of Professional Appraisal Practice also 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 diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value. When you engage Turley Appraisal Service, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for. |