 Honesty and Integrity: Canadian National AppraisersAppraising is typically a long term career. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.For an appraiser the primary obligation is to his or her client. Normally, for a typical residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want a copy of the appraisal document, you should get it through your lender. Other responsibilities also include, accurate calculations appropriate to the nature of the assignment, acquiring and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Canadian National Appraisers, we take these ethical responsibilities very seriously.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is only to those 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 rules that have nothing to do with whom we share information For example, appraisers must store their work files for a minimum of five years - something else Canadian National Appraisers makes a part of their standard routine. We demand the highest professional integrity possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would tend to make appraisers raise the value of homes or properties to increase their fee. We don't do that. Other unprofessional practices may be established by state law or professional organizations to which an appraiser belongs. The Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) 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," "the amount of a value opinion," in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value. With Canadian National Appraisers, you won't have any doubts that you're receiving 100 percent ethical, honest service. |
