James M. Hanson Associates, Inc. upholds the highest professional ethicsWe consider what we do as 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 called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.We have quite a few responsibilities as appraisers, but our chief duty is to our clients. Normally, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has contracted in order to maintain independence. It follows that appraisers have certain duties of confidentiality to their clients, plus strict rules and regulations that must be followed. So, as a homeowner, if you want a copy of an appraisal report, you generally have to get it through your lender.
Appraisers will frequently be obligated to consider the interests of third parties, such as homeowners, both sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary role is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - something else James M. Hanson Associates, Inc. takes very seriously. We demand the highest professional integrity possible from ourselves. Doing orders based on contingency fees is not something we can consider. That means we are not able to agree to do an appraisal report and get paid only if the loan closes. It should be obvious that inflating a value to achieve a higher paycheck is unethical! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice explicitly states 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", or "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 going above and beyond to provide an unbiased determination of the home or property value. As soon as you engage James M. Hanson Associates, Inc., we'll make sure you're getting the professional service you expect along with the principles we're known for. |
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