Valuation Consulting Group maintains the highest professional ethicsWe consider what we do as a profession. Requirements to become a licensed appraiser have become more difficult 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. As with any profession we must follow strict ethical considerations.
The appraiser's primary obligation is to their client. Generally, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has hired in order to maintain independence. It follows that appraisers are privy to a lot of data, and like an attorney, can only discuss many of these matters with their client. As a homeowner, if you desire a copy of an appraisal report, you normally have to obtain it via your lender instead of the appraiser.
Appraisers can regularly have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary duty is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.
Appraisers also have standards outside of boundaries of with whom we share information For example, appraisers must be able to produce their work files for a minimum of five years - something else Valuation Consulting Group diligently adheres to.
We require the highest ethical standards possible from ourselves. Working on assignments where our fee is dependent on our value conclusion is never an option. That means we don't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's certainly a conflict of interest if an appraiser can report a greater value with the reward of getting paid more money! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice also describes a violation in ethics as the acceptance 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", or "the amount of a value opinion" in addition to other situations We diligently follow these rules to the letter which means you can rest easy knowing we are working hard to get you an accurate home or property value.
As soon as you request an appraisal from Valuation Consulting Group, we'll make sure you're getting the professional service you deserve along with the honesty and integrity we're known for.