Honesty and Integrity: EAS Appraisal Services

Typically, appraising 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 called a profession rather than a trade. As with any profession we have a strict ethical code.

As appraisers our main responsibility is to their client. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like to obtain a copy of the appraisal document, you generally have to obtain it through your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the assignment, attaining and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at EAS Appraisal Services, we take these ethical responsibilities very to heart.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary roll is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else EAS Appraisal Services makes a part of their standard routine.

EAS Appraisal Services holds itself to the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would invite appraisal fraud since raising the value of the home would raise the fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "the amount of a value opinion," as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.

As soon as you request an appraisal from EAS Appraisal Services we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.