Metro Appraisers & Consultants upholds the highest professional ethicsWe consider our job as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. So 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.
We have a lot of obligations as appraisers, but our primary duty is to our clients.
More often than not, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has brought in to maintain independence.
It's important to know that certain elements pertaining to an assignment are to be discussed exclusively with the appraiser's client. So, as
a homeowner, if you desire a copy of an appraisal report, you normally have to get it through your lender instead of the appraiser.
Appraisers will often be required to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Metro Appraisers & Consultants you can rest assured that we stick to that rule.
We require the highest professional integrity possible from ourselves. Accepting orders 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 base our pay upon coming up with a particular value conclusion. Anyone should be able to see that inflating a value to achieve what amounts to a bigger paycheck is unethical!
Finally, the Uniform Standards of Professional Appraisal Practice explicitly defines 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", 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 working hard to get you an accurate home or property value.
When you engage Metro Appraisers & Consultants, we'll make sure you're getting the professional service you expect along with the principles we're known for.