 Honesty and Integrity: Tyler Newton & AssociatesAppraising is generally a long term career. The rigors of becoming 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 rather than a trade. In our field, as with any profession, we are bound by an ethical code.
We have many responsibilities as appraisers, but our primary duty is 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 follows that appraisers are privy to a lot of data, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you desire to obtain a copy of the appraisal document, you generally should obtain it via your lender and not the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. 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 things in the framework of the job.
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 at least five years - something else Tyler Newton & Associates makes a part of their standard routine. Tyler Newton & Associates holds itself to the industry standards and mandates set in place for professional behavior. We refuse to accept anything less from ourselves. Working on orders based on contingency fees is not something we can consider. That means we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. It should be obvious that fabricating a property's value to achieve what amounts to a bigger paycheck is unethical! We set ourselves to a higher standard. Finally, the Uniform Standards of Professional Appraisal Practice 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", or "the amount of a value opinion" as well as other situations. We follow these rules to the letter which means you can be confident we are going above and beyond to provide an unbiased determination of the home or property value. As soon as you request an appraisal from Tyler Newton & Associates, we'll make sure you're getting the professional service you expect along with the business principles we're known for. |
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