Home Guide Realty Services maintains the highest professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have many responsibilities as appraisers but our chief duty is to our clients. Most of the time, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you require a copy of the appraisal document, you generally have to get it from your lender. Other responsibilities also include, accurate sums appropriate to the scope of the report, acquiring and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at Home Guide Realty Services.
Home Guide Realty Services has worked hard for its reputation for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers may regularly have fiduciary obligations to third parties, including homeowners, sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is restricted 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 duties that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else Home Guide Realty Services takes very seriously.
Home Guide Realty Services holds itself to the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. We don't do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional societies to which an 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 diligently follow these rules to the letter which means you can be confident we are doing everything we can to objectively determine the home or property value.
When you order an appraisal from Home Guide Realty Services we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.