ERBES APPRAISALS, INC. maintains the highest professional ethics

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we have a strict ethical code.

We have a lot of obligations as appraisers but our chief duty is to our clients. Most of the time, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire to obtain a copy of the appraisal document, you generally have to get it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at ERBES APPRAISALS, INC., we take these ethical responsibilities very to heart.

Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - something else ERBES APPRAISALS, INC. makes a part of their standard routine.

We demand the highest professional integrity possible from ourselves. 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 can't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite fraudulent practices since raising the estimate of the home would increase the their paycheck. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 confident we are doing everything we can to objectively determine the home or property value.

As soon as you engage ERBES APPRAISALS, INC. 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.