Dirigo Valuation upholds the highest professional ethics

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.

We have quite a few obligations as appraisers but above everything we answer to our clients. Generally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you require to review an appraisal report, you normally have to get it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and maintaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Dirigo Valuation, we take these ethical responsibilities very to heart.

Appraisers may also have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the order.

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 Dirigo Valuation you can rest assured that we abide by that rule.

Dirigo Valuation holds itself to the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. We don't do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their fee. We don't do that. Other unethical practices may be established by state law or professional societies that the 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 follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.

With Dirigo Valuation, you can be assured of 100 percent ethical, professional service.