Honesty and Integrity: Maria Storti

Appraising is, by and large, a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.

For an appraiser the primary obligation is to their client. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like to obtain a copy of an appraisal report, you should obtain it through your lender. Other obligations also include, accurate figures appropriate to the nature of the assignment, attaining and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Maria Storti, we take these ethical responsibilities very seriously.

Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary duty is restricted to those 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 duties 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 Maria Storti takes very seriously.

We meet or beat the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. We never do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would invite fraudulent practices since raising the estimate of the home would increase the fee. We don't do that. 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 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," in addition to 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 provide an unbiased determination of the home or property value.

With Maria Storti, you can be assured of 100 percent ethical, honest service.