Quadrant Northwest Appraisal Services upholds the utmost professional ethics

Appraising is typically a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.

We have quite a few 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 privacy to their clients, and as a homeowner, if you would like to obtain a copy of an appraisal report, you normally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, reaching and keeping a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Quadrant Northwest Appraisal Services, we take these ethical responsibilities very seriously.

Appraisers may also have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - something else Quadrant Northwest Appraisal Services makes a part of their standard routine.

When creating reports, we follow the highest ethical standards possible. We don't do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be established by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," "the amount of a value opinion," as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are working hard to provide an unbiased determination of the home or property value.

With Quadrant Northwest Appraisal Services, you can be assured of 100 percent ethical, professional service.