Axis Valuation Services upholds the highest professional ethics

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. As with any profession we are bound by ethical considerations.

We have many responsibilities as appraisers but our primary duty is to our clients. Normally, for a normal residential appraisal, 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 desire to obtain a copy of an appraisal report, you generally have to obtain it through your lender. Other responsibilities also include, accurate sums appropriate to the scope of the report, reaching and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at Axis Valuation Services.

Appraisers will sometimes be obligated to consider the interests of third parties, including homeowners, sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. 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 order.

There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must store their work files for at least five years - something else Axis Valuation Services diligently adheres to.

While working on an order, we follow the highest ethical standards possible. We don't do assignments on contingency fees. That is, we are not able to 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 industries most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unethical practices may be established by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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 follow these rules to the letter which means you can be confident we are going above and beyond to objectively determine the home or property value.

When you engage Axis Valuation Services we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.