Honesty and Integrity: Zerkel Appraisals

We consider our what we do a profession. 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 definitely be dubbed a profession as opposed to a trade. As with any profession we are bound by ethical considerations.

For an appraiser the chief responsibility is to his or her client. Most of the time, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like to obtain a copy of the appraisal document, you should request it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, acquiring and maintaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Zerkel Appraisals.

Appraisers will sometimes be required to consider the interests of third parties, including homeowners, sellers and buyers, or others. Generally the third parties are clearly 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 written parameters of the assignment.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Zerkel Appraisals takes very seriously.

When creating reports, we follow the highest ethical standards possible. Working on assignments that contingency fees is not something we can consider 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 probably the appraisal industries most important rule, 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 unethical practices may be established by state law or professional organizations to which an 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 assured we are working hard to provide an unbiased determination of the home or property value.

When you order an appraisal from Zerkel 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.