For honest and ethical appraisals, count on MetriQ Valuation, LLC

Appraising is, by and large, a long term career. The rigors of becoming 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 dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

An appraiser's chief obligation is to their client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you require a copy of an appraisal report, you generally have to request it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, acquiring and maintaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at MetriQ Valuation, LLC, we take these ethical responsibilities very to heart.

Appraisers may frequently have fiduciary obligations to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those 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 rules that have nothing to do with clients and others. For example, appraisers must backup their work files for a minimum of five years - something else MetriQ Valuation, LLC takes very seriously.

We require the highest ethical standards possible from ourselves. Doing orders on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would invite appraisal fraud since raising the estimate of the home would inflate the their paycheck. We don't do that. Other unethical practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.

When you engage MetriQ Valuation, LLC we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.