Honesty and Integrity: Debora Roos

We consider our our job a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.

The appraiser's chief obligation is to his or her client. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want a copy of the appraisal document, you should get it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching 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 Debora Roos.

Appraisers can regularly have fiduciary obligations to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary duty is limited 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 rules that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - at Debora Roos you can rest assured that we abide by that rule.

We only perform to 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 collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. 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 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 rest easy knowing we are working hard to provide an unbiased determination of the home or property value.

As soon as you engage Debora Roos we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.