Gregory James Company, Inc. maintains the highest professional ethics
We consider our our job a profession. 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 called a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
An appraiser's chief responsibility is to his or her client. More often than not, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require to obtain a copy of an appraisal report, you normally have to get it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, acquiring and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Gregory James Company, Inc., we take these ethical responsibilities very seriously.
Gregory James Company, Inc. has worked hard for its track record for producing competent and ethically superior appraisals. Contact us today to learn more.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary roll is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.
Appraisers also have rules outside of boundaries of with whom we share information For example, appraisers must store their work files for a minimum of five years - at Gregory James Company, Inc. you can rest assured that we abide by that rule.
We demand the highest ethical standards possible from ourselves. Doing assignments on contingency fees is never an option. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. We don't do that. Other unethical practices may be established by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are doing everything we can 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.