JBW Appraisal maintains the utmost professional ethics

Typically, appraising a long term career. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we are bound by an ethical code.

We have many obligations as appraisers but first and foremost we answer to our clients. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you would like to obtain a copy of the appraisal document, you normally have to get it through your lender. Other responsibilities also include, accurate calculations appropriate to the nature of the assignment, acquiring and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at JBW Appraisal, we take these ethical responsibilities very seriously.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary responsibility is only 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 keep their work files for a minimum of five years - at JBW Appraisal you can rest assured that we stick to that rule.

We require the highest ethical standards possible from ourselves. Working on assignments that contingency fees is not something we can consider That is, we don't 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 perhaps the appraisal industries biggest no-no, because it would invite fraudulent practices since increasing the estimate of the home would up the fee. We set ourselves to a higher standard. 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 unethical behavior 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," "the amount of a value opinion," as well as other situations. We diligently follow these rules to the letter which means you can be assured we are working hard to provide an unbiased determination of the home or property value.

As soon as you order an appraisal from JBW Appraisal we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.