ASK Real Estate Services upholds the highest professional ethicsBy and large, appraising is a long term career. The rigors of becoming 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 unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
An appraiser's chief responsibility is to their client.
Most of the time, for a typical residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Certain elements relating to an assignment are to be shared exclusively with the appraiser's client. As
a homeowner, if you would like a copy of an appraisal report, you generally should obtain it through your lender and not the appraiser.
Appraisers may also have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - something else ASK Real Estate Services makes a part of their standard routine.
ASK Real Estate Services holds itself to the industry standards and mandates set in place for professional behavior. We won't accept anything less from ourselves. Accepting assignments where our fee is dependent on our value conclusion is never an option. That means we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. There's a definite conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice clearly 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", or "the amount of a value opinion" in addition to other situations We diligently follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value.
With ASK Real Estate Services, you can be assured of 100 percent ethical, professional service.