Data Systems, Inc. maintains the highest professional ethics

Typically, appraising a long term career. Requirements to become a licensed appraiser have increased more 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. As with any profession we are bound by ethical considerations.

We have a lot of obligations as appraisers but above everything we answer to our clients. More often than not, for a standard 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 want to obtain a copy of an appraisal report, you normally have to get it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Data Systems, Inc., we take these ethical responsibilities very seriously.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary roll 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.

Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must backup their work files for a minimum of five years - at Data Systems, Inc. you can rest assured that we abide by that rule.

We meet or beat the industry standards and mandates set in place for professional behavior. We won't accept anything less from ourselves. Doing assignments on contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their fee. We set ourselves to a higher standard. 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 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 follow these rules to the letter which means you can be confident we are going above and beyond to objectively determine the home or property value.

As soon as you engage Data Systems, 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.