profile picture

Anderson Appraisals maintains the utmost professional ethics

We consider our our job a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.

An appraiser's chief responsibility is to his or her client. Normally, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want to review an appraisal report, you generally have to obtain it from your lender. Other responsibilities also include, accurate calculations appropriate to the nature of the assignment, acquiring and sustaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Anderson Appraisals, we take these ethical responsibilities very seriously.

Anderson Appraisals provides honest and ethical appraisals for Kootenai County

Anderson Appraisals has worked hard for its reputation for completing appraisals with the highest of ethics. To learn more Contact us

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary roll is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.

There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - at Anderson Appraisals you can rest assured that we stick to that rule.

We demand the highest professional integrity possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we can't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) 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," "the amount of a value opinion," as well as other situations. We follow these rules to the letter which means you can be assured we are going above and beyond to provide an unbiased determination of the home or property value.

When you engage Anderson 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.