Honesty and Integrity: DMJ Appraisals
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. That's why 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.
For an appraiser the primary responsibility is to their client. Typically, in residential practice, 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 would like to review the appraisal document, you should get it through your lender. Other obligations also include, accurate figures appropriate to the parameters of the report, acquiring and keeping a respectable 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 DMJ Appraisals.
DMJ Appraisals has an established reputation for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will sometimes need to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must store their work files for a minimum of five years - something else DMJ Appraisals diligently adheres to.
We only perform to the highest ethical standards possible. Working on assignments that contingency fees is not something we can consider 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 biggest taboo, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We set ourselves to a higher standard. 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 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," as well as other situations. We diligently follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.
With DMJ Appraisals, you can be assured of 100 percent ethical, honest service.