Honesty and Integrity: Mike Noble Appraisals
Generally, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have many obligations as appraisers but our primary duty is to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you desire to obtain a copy of an appraisal report, you should get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, reaching and sustaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Mike Noble Appraisals, we take these ethical responsibilities very to heart.
Mike Noble Appraisals has worked hard for its track record for performing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
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 a minimum of five years - something else Mike Noble Appraisals makes a part of their standard routine.
When working on an order, we follow the highest ethical standards possible. We don't do assignments on contingency fees. 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 professions biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We don't do that. Other unprofessional practices may be defined by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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 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.
As soon as you request an appraisal from Mike Noble Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.