Thompson Appraisal & Consulting maintains the utmost professional ethics

Appraising is typically a long term career. Requirements to become a licensed appraiser have increased more than ever in the past. 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 must follow strict ethical considerations.

We have a great deal of obligations as appraisers but above everything we answer to our clients. Typically, for appraisals completed for financing, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a property owner, if you would like a copy of an appraisal report, you generally have to request it from your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, acquiring and maintaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Thompson Appraisal & Consulting, we take these ethical responsibilities very to heart.

Appraisers will often be required to consider the interests of third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - at Thompson Appraisal & Consulting you can rest assured that we adhere to that rule.

We meet or beat the industry standards and guidelines set in place for ethics. We won't accept anything less from ourselves. Doing orders on contingency fees is not something we can consider That is, we don't 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 unprofessional 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 accepting 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 assured we are working hard to objectively determine the home or property value.

With Thompson Appraisal & Consulting, you won't have any doubts that you're getting 100 percent ethical, professional service.