For honest and ethical appraisals, rely on a la mode

Appraising is typically 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 definitely be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.

We have a lot of responsibilities as appraisers but our primary duty is to our clients. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. 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 would like to obtain a copy of the appraisal document, you generally have to get it from your lender. Other responsibilities also include, accurate figures appropriate to the nature of the assignment, acquiring and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is just normal course of business for us at a la mode.

In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else a la mode takes very seriously.

We only perform to 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. We don't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would invite fraudulent practices since increasing the value of the home would up the their paycheck. We don't do that. 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 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 diligently follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.

When you engage a la mode we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.