Honesty and Integrity: Bowers Real Estate & Appraisal Services
We consider our what we do a profession. The rigors of becoming a licensed appraiser have become more difficult than ever in the past. So it goes without question in this day and age that real estate appraisal can definitely be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
The appraiser's main obligation is to his or her client. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. 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 require a copy of the appraisal document, you should get it from your lender. Other obligations also include, accurate figures appropriate to the parameters of the report, reaching and sustaining a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is standard operating procedure for us at Bowers Real Estate & Appraisal Services.
Bowers Real Estate & Appraisal Services has worked hard for its reputation for completing appraisals with the highest of ethics. To learn more Contact us
Appraisers will frequently be required to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else Bowers Real Estate & Appraisal Services diligently adheres to.
We demand the highest ethical standards possible from ourselves. We never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be defined by state law or professional societies 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 diligently follow these rules to the letter which means you can be at ease knowing we are doing everything we can to provide an unbiased determination of the home or property value.
With Bowers Real Estate & Appraisal Services, you can be assured of 100 percent ethical, honest service.