Honesty and Integrity: Cactus Appraisal

Appraising is, by and large, a long term career. The rigors of becoming a licensed appraiser have increased more 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.

For an appraiser the main responsibility is to his or her client. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you desire to review the appraisal document, you should obtain it through your lender. Other responsibilities also include, accurate calculations appropriate to the parameters of the assignment, reaching and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Cactus Appraisal, we take these ethical responsibilities very seriously.

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

There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - at Cactus Appraisal you can rest assured that we abide by that rule.

We require the highest professional integrity possible from ourselves. Doing assignments on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite appraisal fraud since raising the estimate of the home would up the fee. We don't do that. Other unprofessional practices may be established by state law or professional organizations 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 diligently follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.

With Cactus Appraisal, you can be assured of 100 percent ethical, honest service.