Reeder Appraisal Services, LLC upholds the highest professional ethicsAppraising is generally 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 unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
We have a lot of obligations as appraisers, but first and foremost we answer to our clients.
Typically, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It's important to know that a lot of elements pertaining to an assignment are to be shared with the appraiser's client. So, as
a homeowner, if you want to review an appraisal report, you generally should get it from your lender.
Appraisers can also have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary role is restricted 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 rules that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for a minimum of five years - at Reeder Appraisal Services, LLC you can rest assured that we abide by that rule.
We meet or exceed the industry standards and guidelines set in place for professional behavior. We refuse to accept anything less from ourselves. Accepting orders based on contingency fees is not something we can consider. In other words, we can'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 larger value and then get paid more money! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice explicitly describes 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", or "the amount of a value opinion" as well as other situations. We diligently follow these rules to the letter which means you can rest easy knowing we are going above and beyond to get you an accurate home or property value.
As soon as you engage Reeder Appraisal Services, LLC, we'll make sure you're getting the professional service you deserve along with the honesty and integrity we're known for.