Honesty and Integrity: Gregory James Company, Inc.
We consider our our business a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be called a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have a lot of responsibilities as appraisers but our primary duty is to our clients. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including confidentiality for their clients a homeowner, if you desire to review an appraisal report, you should obtain it through your lender. Other responsibilities also include, accurate sums appropriate to the parameters of the report, reaching and maintaining a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is standard operating procedure for us at Gregory James Company, Inc..
Gregory James Company, Inc. has worked hard for its track record for providing appraisals with the highest of ethics. To learn more Contact us
Appraisers will often need to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - something else Gregory James Company, Inc. takes very seriously.
We require the highest ethical standards possible 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 the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite fraudulent practices since raising 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 societies that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior as the acceptance 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 working hard to provide an unbiased determination of the home or property value.
With Gregory James Company, Inc., you won't have any doubts that you're getting 100 percent ethical, honest service.