For honest and ethical appraisals, trust People's Choice Appraisals

We consider our our business a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.

The appraiser's chief obligation is to their client. Typically, in residential practice, 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 want to obtain a copy of an appraisal report, you should request it from your lender. Other responsibilities also include, accurate figures appropriate to the scope of the report, acquiring and keeping a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at People's Choice Appraisals, we take these ethical responsibilities very seriously.

Appraisers can frequently have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at People's Choice Appraisals you can rest assured that we stick to that rule.

We require the highest ethical standards possible from ourselves. We don't 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. We don't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. 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 defines 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 diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.

When you engage People's Choice Appraisals 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.