Honesty and Integrity: DKMP Appraisal Services

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

The appraiser's primary responsibility is to their client. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire to obtain a copy of the appraisal document, you should get it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is standard operating procedure for us at DKMP Appraisal Services.

Appraisers will frequently need to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - something else DKMP Appraisal Services 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 can't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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," as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.

When you engage DKMP Appraisal Services we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.