Honesty and Integrity: Cole Johnson Appraisals

By and large, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we are bound by ethical considerations.

We have many responsibilities as appraisers but first and foremost we answer to our clients. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like to review the appraisal document, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Cole Johnson Appraisals, we take these ethical responsibilities very seriously.

Appraisers will regularly be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.

There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for at least five years - at Cole Johnson Appraisals you can rest assured that we abide by that rule.

When creating reports, we follow the highest ethical standards possible. Doing assignments on contingency fees is never an option. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would invite appraisal fraud since increasing the value of the home would up the their paycheck. We don't do that. Other unethical practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 diligently follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.

With Cole Johnson Appraisals, you won't have any doubts that you're receiving 100 percent ethical, professional service.