Diversified Real Estate Activities Inc. (805) 388-5507 maintains the utmost professional ethics

Appraising is generally a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we are bound by an ethical code.

For an appraiser the primary obligation is to his or her client. More often than not, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like to review the appraisal document, you should obtain it through your lender. Other responsibilities also include, accurate figures appropriate to the parameters of the report, attaining and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is standard operating procedure for us at Diversified Real Estate Activities Inc. (805) 388-5507.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is only to those third 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 duties that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - something else Diversified Real Estate Activities Inc. (805) 388-5507 diligently adheres to.

While busy with an assignment, we follow the highest ethical standards possible. Working on assignments that contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions 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 unprofessional practices may be established 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 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," as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are working hard to provide an unbiased determination of the home or property value.

With Diversified Real Estate Activities Inc. (805) 388-5507, you can be assured of 100 percent ethical, honest service.