Elite Appraisals provides honest and ethical appraisals for Saint Francis County

Elite Appraisals upholds the highest professional ethics

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age 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 obligations as appraisers, but our primary duty is to our clients. Generally, for a standard 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 review the appraisal document, you normally should request it through your lender.

Other obligations include numerical accuracy depending on the scope of the assignment, reaching and maintaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Elite Appraisals, we take these ethical responsibilities very to heart.

Appraisers will sometimes need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.


	Elite Appraisals has worked hard for its reputation for producing appraisals with the highest of ethics. To learn more, contact us.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - at Elite Appraisals you can rest assured that we abide by that rule.

Elite Appraisals holds itself to the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. Doing assignments where our fee is dependent on our value conclusion is not something we can consider. That is, 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 with the reward of getting paid more money! We set ourselves to a higher standard.

Finally, the Uniform Standards of Professional Appraisal Practice also 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" in addition to other situations We diligently follow these rules to the letter which means you can be confident we are doing everything we can to get you an accurate home or property value.

As soon as you engage Elite Appraisals, we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for.