Alaska Property Services LLC upholds the highest professional ethics

We think of what we do as a profession. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can definitely be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.

We have a great deal of responsibilities as appraisers but our chief duty is to our clients. Normally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you want a copy of the appraisal document, you should request it through your lender. Other responsibilities also include, accurate figures appropriate to the scope of the assignment, reaching and maintaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Alaska Property Services LLC, we take these ethical responsibilities very seriously.

Appraisers will often be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.

Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else Alaska Property Services LLC makes a part of their standard routine.

We demand the highest ethical standards possible from ourselves. We never do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would invite fraudulent practices since raising the value of the home would inflate the their paycheck. We set ourselves to a higher standard. Other unethical practices may be defined 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 diligently follow these rules to the letter which means you can be assured we are going above and beyond to objectively determine the home or property value.

When you order an appraisal from Alaska Property Services LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.