Honesty and Integrity: DLB & Associates Real Estate Appraisers

Appraising is, by and large, a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can unquestionably be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

As appraisers our chief obligation is to their client. Generally, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you require a copy of an appraisal report, you generally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, reaching and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at DLB & Associates Real Estate Appraisers, we take these ethical responsibilities very to heart.

Appraisers can often 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 duty is restricted 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.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - something else DLB & Associates Real Estate Appraisers takes very seriously.

DLB & Associates Real Estate Appraisers holds itself to the industry standards and mandates set in place for professional behavior. 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. We can't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since raising the estimate of the home would up the fee. We set ourselves to a higher standard. Other unprofessional 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 objectively determine the home or property value.

As soon as you engage DLB & Associates Real Estate Appraisers we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.