![]() Jeff Mazzaferri upholds the utmost professional ethicsAppraising is generally a long term career. Requirements to become a licensed appraiser have become more difficult than ever before. 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 have a strict ethical code.
The appraiser's primary obligation is to their client.
Most of the time, for a standard residential appraisal, the lender (or an agent of 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 of these matters with their client. As
a homeowner, if you would like a copy of an appraisal report, you generally should get it through your lender instead of the appraiser.
Appraisers can also have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical standards that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Jeff Mazzaferri makes a part of their standard routine. When creating reports, we follow the highest ethical standards possible. Accepting orders where our fee is dependent on our value conclusion is never an option. That is, we don't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. Anyone should be able to see that fabricating a property's value to achieve essentially a higher paycheck is unethical! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "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", 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 doing everything we can to provide an unbiased determination of the home or property value. With Jeff Mazzaferri, you can be assured of 100 percent ethical, professional service. |