Richard Crowder upholds the highest professional ethics

We think of what we do as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.

For an appraiser the main responsibility is to their client. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require to review an appraisal report, you should obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, reaching and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Richard Crowder, we take these ethical responsibilities very seriously.

Appraisers can regularly have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.

Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - something else Richard Crowder diligently adheres to.

When creating reports, we follow the highest ethical standards possible. We have a responsibility not to do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would invite fraudulent practices since raising the estimate of the home would increase the their paycheck. We don't do that. Other unethical practices may be defined by state law or professional societies to which an 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 diligently 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.

As soon as you engage Richard Crowder we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.