 Honesty and Integrity: Paradis Appraisal ServicesAppraising is, by and large, a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.
We have a great deal of responsibilities as appraisers, but above everything we answer to our clients.
Typically, in residential practice, 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 many matters pertaining to an assignment are to be shared exclusively with the appraiser's client. As
a homeowner, if you desire a copy of the appraisal document, you generally have to obtain it via your lender.
Appraisers can sometimes have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty 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 rules that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for at least five years - something else Paradis Appraisal Services diligently adheres to. We require the highest ethical standards possible from ourselves. Working on orders based on contingency fees is never an option. In other words, we can't agree to do an appraisal report and get paid only if the loan closes. There's certainly a conflict of interest if an appraiser can report a greater value and then get paid more money! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice also defines a violation in ethics 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value. As soon as you request an appraisal from Paradis Appraisal Services, we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for. |
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