![]() Beekman & Associates maintains the utmost professional ethicsWe think of our business as a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be called a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have many responsibilities as appraisers, but our main 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 typically restricted to only disclosing information to their clients, so as
a homeowner, if you desire to obtain a copy of the appraisal document, you normally should request it through your lender and not the appraiser.
Appraisers will regularly need to consider the interests of third parties, including homeowners, sellers and buyers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary role 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.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else Beekman & Associates makes a part of their standard routine. We require the highest ethical standards possible from ourselves. Working on assignments where our fee is dependent on our value conclusion is not something we can consider. That means we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. It should be apparent to anyone that fabricating a property's value to achieve essentially a bigger fee is unethical! Finally, the Uniform Standards of Professional Appraisal Practice also describes unethical behavior 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 be confident we are going above and beyond to objectively determine the home or property value. When you request an appraisal from Beekman & Associates, we'll make sure you're getting the professional service you deserve along with the principles we're known for. |