Barnes Real Estate Service maintains the utmost professional ethics
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can certainly be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
We have many obligations as appraisers but our primary duty is to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you desire a copy of an appraisal report, you should obtain it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Barnes Real Estate Service, we take these ethical responsibilities very seriously.
Barnes Real Estate Service has worked hard for its track record for performing appraisals with the highest of ethics. To learn more Contact us
Appraisers will regularly need to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are defined in the appraisal assignment itself. 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 assignment.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - something else Barnes Real Estate Service diligently adheres to.
Barnes Real Estate Service holds itself to the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional organizations that the 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," as well as other situations. We follow these rules to the letter which means you can be confident we are working hard to objectively determine the home or property value.
As soon as you engage Barnes Real Estate Service 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.