Honesty and Integrity: Michael L. Couch

We consider our what we do a profession. Requirements to become a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.

We have many responsibilities as appraisers but first and foremost we answer to our clients. Typically, 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 an appraisal report, you normally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, acquiring and keeping a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Michael L. Couch, we take these ethical responsibilities very seriously.

Appraisers can regularly have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary roll is limited to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - at Michael L. Couch you can rest assured that we abide by that rule.

Michael L. Couch holds itself to the industry standards and guidelines set in place for ethics. We refuse to 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. 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 up the fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional organizations to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 be at ease knowing we are working hard to provide an unbiased determination of the home or property value.

When you engage Michael L. Couch 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.