Honesty and Integrity: CPC & Associates

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be called a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.

We have many obligations as appraisers but our chief duty is to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you require to review an appraisal report, you should request it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, attaining and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at CPC & Associates, we take these ethical responsibilities very seriously.

Appraisers can regularly have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. 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 standards that have nothing to do with whom we share information. For example, appraisers must backup their work files for at least five years - something else CPC & Associates takes very seriously.

While working on an assignment, we follow the highest ethical standards possible. Doing orders on contingency fees is never an option. That is, we can't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We don't do that. Other improper practices may be established by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be at ease knowing we are doing everything we can to provide an unbiased determination of the home or property value.

When you request an appraisal from CPC & Associates we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.