Novotny Real Estate maintains the utmost professional ethics

We think of what we do as a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession rather than a trade. As with any profession we have a strict ethical code.

We have a great deal of responsibilities as appraisers but above everything we answer to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire a copy of the appraisal document, you generally have to request it from your lender. Other obligations also include, accurate calculations appropriate to the parameters of the report, attaining and maintaining 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 just normal course of business for us at Novotny Real Estate.

Appraisers may also have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. 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 written parameters of the order.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for a minimum of five years - something else Novotny Real Estate makes a part of their standard routine.

Novotny Real Estate holds itself to the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite fraudulent practices since increasing the estimate of the home would up the their paycheck. We set ourselves to a higher standard. Other improper practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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 follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.

With Novotny Real Estate, you won't have any doubts that you're receiving 100 percent ethical, honest service.