Honesty and Integrity: Alaska Appraisal & Consulting Group

We think of our job as a profession. The rigors of becoming 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 certainly be considered a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.

For an appraiser the primary obligation 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 a copy of the appraisal document, you normally have to obtain it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, reaching and maintaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Alaska Appraisal & Consulting Group, we take these ethical responsibilities very seriously.

Appraisers may also have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - at Alaska Appraisal & Consulting Group you can rest assured that we stick to that rule.

We require the highest ethical standards possible from ourselves. Working on orders that contingency fees is not something we can consider That is, we can'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 probably the appraisal professions biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be defined by state law or professional organizations 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," in addition to other situations We follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.

When you order an appraisal from Alaska Appraisal & Consulting Group we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.