Gregory James Company, Inc. upholds the utmost professional ethics
Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
As appraisers our primary responsibility is to their client. More often than not, for a normal 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 desire a copy of an appraisal report, you normally have to request it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is is what we do everyday at Gregory James Company, Inc..
Gregory James Company, Inc. has worked hard for its track record for completing competent and ethically superior appraisals. To learn more Contact us
Appraisers will regularly need to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is limited to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - something else Gregory James Company, Inc. makes a part of their standard routine.
We meet or beat the industry standards and guidelines set in place for ethics. We won't accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. 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 increase the value of homes or properties to increase their fee. We don't do that. Other unethical practices may be established by state law or professional societies that the 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 rest easy knowing we are going above and beyond to objectively determine the home or property value.
As soon as you engage Gregory James Company, Inc. 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.