For honest and ethical appraisals, rely on Appraisal Consulting Group, PSC

By and large, appraising a long term career. 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 certainly be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.

We have a lot of obligations as appraisers but above everything we answer to our clients. Normally, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you want a copy of the appraisal document, you normally have to obtain it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and sustaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Appraisal Consulting Group, PSC, we take these ethical responsibilities very seriously.

Appraisers will sometimes need 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 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 duties that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - something else Appraisal Consulting Group, PSC diligently adheres to.

We demand the highest ethical standards possible from ourselves. Working on assignments that contingency fees is never an option. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would invite appraisal fraud since increasing the estimate of the home would inflate the their paycheck. We set ourselves to a higher standard. Other improper practices may be established by state law or professional societies that the 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 going above and beyond to objectively determine the home or property value.

With Appraisal Consulting Group, PSC, you can be assured of 100 percent ethical, professional service.