Preferred Partners upholds the utmost professional ethics

By and large, appraising a long term career. The rigors of becoming a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

For an appraiser the main responsibility is to their client. Most of the time, in residential practice, 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 would like to obtain a copy of an appraisal report, you should obtain it from your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the assignment, acquiring and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Preferred Partners, we take these ethical responsibilities very to heart.

Appraisers will frequently need to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.

There are also ethical standards 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 Preferred Partners diligently adheres to.

Preferred Partners holds itself to the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we don'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 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 defined by state law or professional societies that the 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," in addition to other situations We follow these rules to the letter which means you can be assured we are going above and beyond to objectively determine the home or property value.

With Preferred Partners, you can be assured of 100 percent ethical, honest service.