![]() Dattilo Appraisal & Realty Services upholds the utmost professional ethicsWe consider our business as a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be considered a profession rather than a trade. As with any profession we must follow strict ethical considerations.
The appraiser's main responsibility is to their client.
Generally, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence.
Appraisers are privy to a lot of information, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you want to review an appraisal report, you normally have to get it via your lender.
Appraisers will often be obligated to consider the interests of third parties, including homeowners, sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary role is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - something else Dattilo Appraisal & Realty Services diligently adheres to. Dattilo Appraisal & Realty Services holds itself to the industry standards and guidelines set in place for professional behavior. We won't accept anything less from ourselves. Accepting orders where our fee is dependent on our value conclusion is not something we can consider. That means we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. There's certainly a conflict of interest if an appraiser can report a larger value with the reward of getting paid more money! Finally, the Uniform Standards of Professional Appraisal Practice 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", or "the amount of a value opinion" as well as 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 engage Dattilo Appraisal & Realty Services, we'll make sure you're getting the professional service you expect along with the high ethical standards we're known for. |