Brennan Appraisal Services maintains the highest professional ethicsWe think of our business as 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 certainly be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have a lot of obligations as appraisers, but first and foremost we answer to our clients.
Typically, for a regular residential appraisal, 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.
Consequently, appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you desire to obtain a copy of the appraisal document, you normally should request it from your lender and not the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary role is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for at least five years - something else Brennan Appraisal Services diligently adheres to. Brennan Appraisal Services holds itself to the industry standards and guidelines set in place for professional behavior. We refuse to accept anything less from ourselves. Working on orders where our fee is dependent on our value conclusion is not something we can consider. 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 a greater value and then get paid more money! We just don't do it. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") 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 follow these rules to the letter which means you can rest easy knowing we are going above and beyond to objectively determine the home or property value. With Brennan Appraisal Services, you can be assured of 100 percent ethical, honest service. |