Honesty and Integrity: Irene Maurer

We consider our what we do a profession. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have quite a few obligations as appraisers but our primary duty is to our clients. Normally, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. 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 want to review an appraisal report, you should get it through your lender. Other responsibilities also include, accurate calculations appropriate to the parameters of the report, attaining and sustaining a respectable 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 Irene Maurer.

Appraisers will sometimes be required to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.

There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - at Irene Maurer you can rest assured that we adhere to that rule.

We demand the highest professional integrity possible from ourselves. Working on assignments that contingency fees is not something we can consider That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite fraudulent practices since raising the estimate of the home would raise the fee. We don't do that. Other unprofessional practices may be established by state law or professional societies that the appraiser belongs.

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

When you engage Irene Maurer we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.