Sloan Real Estate Services PLLC upholds the highest professional ethics

We think of our business as a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be considered a profession rather than 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, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you would like a copy of an appraisal report, you generally have to get it from your lender. Other responsibilities also include, accurate figures appropriate to the scope of the report, reaching and sustaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is just normal course of business for us at Sloan Real Estate Services PLLC.

Appraisers will regularly need to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary roll is limited to those parties who the appraiser is aware of, 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 a minimum of five years - something else Sloan Real Estate Services PLLC diligently adheres to.

We meet or beat the industry standards and mandates set in place for ethics. We won't accept anything less from ourselves. We never do assignments on contingency fees. That is, we are not able to 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 probably the appraisal industries biggest taboo, because it would invite fraudulent practices since increasing the estimate of the home would raise the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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 rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value.

As soon as you engage Sloan Real Estate Services PLLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.