Honesty and Integrity: Studler & Associates, Inc.

We consider our what we do a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question in this day and age that real estate appraisal can certainly be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.

We have many obligations as appraisers but first and foremost we answer to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you want a copy of an appraisal report, you normally have to get it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and sustaining a certain 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 Studler & Associates, Inc..

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

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for at least five years - at Studler & Associates, Inc. you can rest assured that we abide by that rule.

We require the highest professional integrity possible from ourselves. We don't do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite appraisal fraud since raising the estimate of the home would up the fee. We set ourselves to a higher standard. Other improper practices may be established by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," 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 objectively determine the home or property value.

When you engage Studler & Associates, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.