For honest and ethical appraisals, trust M.D. Bell and Company

Appraising is generally a long term career. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.

We have a lot of responsibilities as appraisers but first and foremost we answer to our clients. Typically, in residential practice, 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 a copy of the appraisal document, you generally have to request it from your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the report, reaching and sustaining a certain 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 M.D. Bell and Company.

Appraisers will regularly need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at M.D. Bell and Company you can rest assured that we adhere to that rule.

When working on an order, we follow the highest ethical standards possible. Working on orders that contingency fees is never an option. That is, we can'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 perhaps the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their fee. We don't do that. 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 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," as well as other situations. We diligently follow these rules to the letter which means you can be confident we are doing everything we can to provide an unbiased determination of the home or property value.

When you request an appraisal from M.D. Bell and Company we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.