Honesty and Integrity: Marketwise Appraisal, LLCWe think of our business as a profession. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have many obligations as appraisers, but our chief duty is to our clients. More often than not, in residential practice, 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. Appraisers are typically limited to only disclosing information to their clients, so as a homeowner, if you desire to review the appraisal document, you generally should get it through your lender instead of the appraiser.
Appraisers will regularly need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. 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 written parameters of the order.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - at Marketwise Appraisal, LLC you can rest assured that we stick to that rule.
We demand the highest professional integrity possible from ourselves. Accepting orders based on contingency fees is never an option. In other words, we don't agree to do an appraisal report and collect the fee only if the loan closes. There's certainly a conflict of interest if an appraiser can report a greater value and then get paid more money!
Finally, the Uniform Standards of Professional Appraisal Practice explicitly 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", or "the amount of a value opinion" in addition to other situations We follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.
With Marketwise Appraisal, LLC, you can be assured of 100 percent ethical, professional service.