For honest and ethical appraisals, count on Joe Johnson AppraisalsAppraising is generally a long term career. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can unquestionably be called a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
We have quite a few responsibilities as appraisers, but our primary duty is to our clients.
Generally, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Subsequently, appraisers have certain duties of privacy to their clients, plus strict rules and regulations to which we must adhere. As
a homeowner, if you would like to obtain a copy of an appraisal report, you generally have to request it through your lender and not the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary roll is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - at Joe Johnson Appraisals you can rest assured that we adhere to that rule.
We meet or exceed the industry standards and mandates set in place for professional behavior. We can't accept anything less from ourselves. Accepting assignments based on contingency fees is not something we can consider. In other words, we don't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. It should be obvious that fabricating a home's value to achieve what amounts to a higher fee is unethical! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice also defines a violation in ethics 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", or "the amount of a value opinion" as well as other situations. We 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 engage Joe Johnson Appraisals, we'll make sure you're getting the professional service you expect along with the principles we're known for.