The August Group Inc. upholds the highest professional ethics
We consider our our job a profession. 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 definitely be considered a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have many responsibilities as appraisers but our chief duty is to our clients. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require 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's nature, attaining and maintaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Here at The August Group Inc., we take these ethical responsibilities very to heart.
The August Group Inc. has an established reputation for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can sometimes have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the job.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must be able to produce their work files for a minimum of five years - at The August Group Inc. you can rest assured that we stick to that rule.
We demand the highest professional integrity possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, 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 that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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 doing everything we can to provide an unbiased determination of the home or property value.
When you engage The August Group 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.