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 REID E. CHOATE & ASSOCIATES, LLC maintains the utmost professional ethics
We consider our business as a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
The appraiser's chief responsibility is to their client.
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 contracted in order to maintain independence.
Subsequently, appraisers have certain duties of confidentiality to their clients, plus strict rules and regulations to which we must adhere. So, as
a homeowner, if you want a copy of the appraisal document, you generally should obtain it via your lender instead of the appraiser.
Other responsibilities include numerical accuracy depending on the assignment parameters, acquiring and maintaining an adequate level of competency and education, and naturally, the appraiser must bear a professional demeanor. Here at REID E. CHOATE & ASSOCIATES, LLC, we take these ethical responsibilities very seriously.
Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.
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REID E. CHOATE & ASSOCIATES, LLC has an established reputation for completing competent and ethically superior appraisals. Contact us today to learn more. |
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Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - something else REID E. CHOATE & ASSOCIATES, LLC makes a part of their standard routine.
We require the highest professional integrity possible from ourselves.
Accepting assignments based on contingency fees is never an option.
In other words, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion.
There's a definite conflict of interest if an appraiser can report an unsubstantiated value with the reward of getting paid more money!
This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice clearly describes 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" as well as 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 REID E. CHOATE & ASSOCIATES, LLC, you won't have any doubts that you're receiving 100 percent ethical, professional service.
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