Honesty and Integrity: Filson's Real Estate Appraisal Services, Inc.

By and large, 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 considered a profession as opposed to a trade. As with any profession we have a strict ethical code.

For an appraiser the primary responsibility is to their client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you require a copy of the appraisal document, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, reaching and maintaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Filson's Real Estate Appraisal Services, Inc., we take these ethical responsibilities very to heart.

Appraisers may frequently have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - something else Filson's Real Estate Appraisal Services, Inc. takes very seriously.

We require the highest professional integrity possible from ourselves. Doing assignments on contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would invite appraisal fraud since raising the value of the home would increase the fee. We don't do that. Other unprofessional practices may be defined by state law or professional societies to which an appraiser belongs.

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

When you order an appraisal from Filson's Real Estate Appraisal Services, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.