For honest and ethical appraisals, count on Elizabeth McCallister

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.

We have quite a few responsibilities as appraisers but first and foremost we answer to our clients. Typically, for a regular residential appraisal, 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 generally have to get it through your lender. Other responsibilities also include, accurate figures appropriate to the nature of the report, reaching and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Elizabeth McCallister, we take these ethical responsibilities very seriously.

Appraisers can also have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must keep their work files for a minimum of five years - something else Elizabeth McCallister makes a part of their standard routine.

When busy with an appraisal, we follow the highest ethical standards possible. Doing assignments on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other improper 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 follow these rules to the letter which means you can be confident we are going above and beyond to objectively determine the home or property value.

With Elizabeth McCallister, you can be assured of 100 percent ethical, professional service.