Marr Appraisal LLC upholds the utmost professional ethics

By and large, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.

We have many responsibilities as appraisers but first and foremost we answer to our clients. Most of the time, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you would like a copy of the appraisal document, you generally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, acquiring and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Marr Appraisal LLC, we take these ethical responsibilities very seriously.

Appraisers will sometimes be obligated to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility 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 assignment.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - something else Marr Appraisal LLC diligently adheres to.

We require the highest ethical standards possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest taboo, because it would invite appraisal fraud since increasing the estimate of the home would raise the fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional societies to which an 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 rest easy knowing we are working hard to objectively determine the home or property value.

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