REID E. CHOATE & ASSOCIATES, LLC provides honest and ethical appraisals for Hawaii County

REID E. CHOATE & ASSOCIATES, LLC upholds the utmost professional ethics

We consider our business as a profession. The rigors of becoming a licensed appraiser have become more difficult 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. As with any profession we must follow strict ethical considerations.

We have quite a few responsibilities as appraisers, but first and foremost we answer to our clients. Typically, in residential practice, 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 follows that appraisers have certain duties of confidentiality to their clients, plus many rules and regulations to which we must adhere. So, as a homeowner, if you want a copy of an appraisal report, you normally have to obtain it via your lender.

Other obligations include numerical accuracy depending on the assignment parameters, reaching and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at REID E. CHOATE & ASSOCIATES, LLC, we take these ethical responsibilities very to heart.

There are some scenarios in which appraisers will have fiduciary responsibilities 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 restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.

REID E. CHOATE & ASSOCIATES, LLC has an established reputation for completing competent and ethically superior appraisals. To learn more, contact us.


There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must backup their work files for a minimum of five years - something else REID E. CHOATE & ASSOCIATES, LLC diligently adheres to.

REID E. CHOATE & ASSOCIATES, LLC holds itself to the industry standards and guidelines set in place for professional behavior. We refuse to accept anything less from ourselves. Accepting orders where our fee is dependent on our value conclusion is never an option. In other words, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that inflating a value to achieve what amounts to a higher fee is unethical! We set ourselves to a higher standard.

Finally, the Uniform Standards of Professional Appraisal Practice explicitly states 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 diligently follow these rules to the letter which means you can be assured we are doing everything we can to objectively determine the home or property value.

When you request an appraisal from REID E. CHOATE & ASSOCIATES, LLC, we'll make sure you're getting the professional service you expect along with the honesty and integrity we're known for.