Marsh Appraisal maintains the highest professional ethics

Appraising is, by and large, a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.

We have quite a few obligations as appraisers but our main duty is to our clients. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to obtain a copy of the appraisal document, you normally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, acquiring and sustaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is standard operating procedure for us at Marsh Appraisal.

Appraisers will regularly need to consider the interests of third parties, including homeowners, sellers and buyers, or others. Generally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must backup their work files for a minimum of five years - something else Marsh Appraisal takes very seriously.

We meet or beat the industry standards and guidelines set in place for professional behavior. We refuse to accept anything less from ourselves. Doing assignments on contingency fees is never an option. That is, we can't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite fraudulent practices since increasing the estimate of the home would increase the fee. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional organizations that the 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 provide an unbiased determination of the home or property value.

When you request an appraisal from Marsh Appraisal we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.