Honesty and Integrity: Gregory James Company, Inc.
We consider our our job a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have a lot of obligations as appraisers but first and foremost we answer to our clients. Most of the time, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you would like to obtain a copy of an appraisal report, you normally have to get it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment parameters, acquiring and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Gregory James Company, Inc., we take these ethical responsibilities very seriously.
Gregory James Company, Inc. has worked hard for its reputation for performing competent and ethically superior appraisals. To learn more Contact us
Appraisers will often be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary roll is only to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
There are also ethical duties that have nothing to do with clients and others. For example, appraisers must backup their work files for at least five years - at Gregory James Company, Inc. you can rest assured that we stick to that rule.
We require the highest professional integrity possible from ourselves. Working on orders that contingency fees is never an option. That is, we can'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 probably the appraisal industries most important rule, because it would invite appraisal fraud since increasing the value of the home would raise the fee. We don't do that. Other unprofessional practices may be defined by state law or professional societies to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," in addition to other situations We follow these rules to the letter which means you can be confident we are working hard to provide an unbiased determination of the home or property value.
When you order an appraisal from Gregory James Company, Inc. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.