Colson Real Estate Services upholds the highest professional ethics

We think of our business as a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.

The appraiser's main responsibility is to their client. Typically, for a normal 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 desire a copy of the appraisal document, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and sustaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at Colson Real Estate Services.

Appraisers can also have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary roll is restricted 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 at least five years - something else Colson Real Estate Services takes very seriously.

When creating reports, we follow the highest ethical standards possible. 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. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unethical practices may be defined by state law or professional societies 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," in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.

With Colson Real Estate Services, you can be assured of 100 percent ethical, professional service.