KEY INSIGHT upholds the utmost professional ethicsWe think of what we do as a profession. Requirements to become 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 unquestionably be considered a profession rather than a trade. As with any profession we have a strict ethical code.
We have a great deal of responsibilities as appraisers, but our primary duty is to our clients.
Typically, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Thereon, appraisers have certain duties of confidentiality to their clients, plus strict rules and regulations that must be followed. As
a homeowner, if you would like a copy of the appraisal document, you generally should get it through your lender and not the appraiser.
Appraisers may also have fiduciary obligations to 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 role is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - something else KEY INSIGHT makes a part of their standard routine.
KEY INSIGHT holds itself to the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. Doing orders where our fee is dependent on our value conclusion is never an option. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. There's certainly a conflict of interest if an appraiser can report an unsubstantiated value and then get paid more money! We set ourselves to a higher standard.
Finally, the Uniform Standards of Professional Appraisal Practice clearly 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", or "the amount of a value opinion" in addition to other situations We follow these rules to the letter which means you can be confident we are going above and beyond to get you an accurate home or property value.
With KEY INSIGHT, you won't have any doubts that you're getting 100 percent ethical, honest service.