Honesty and Integrity: The August Group Inc.
Appraising is a profession, and appraisers are professionals. 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 certainly be called a profession as opposed to a trade. As with any profession we have a strict ethical code.
As appraisers our primary responsibility is to his or her client. Generally, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you desire to obtain a copy of an appraisal report, you should obtain it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and sustaining a respectable level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is just normal course of business for us at The August Group Inc..
The August Group Inc. has an established track record for performing appraisals with the highest of ethics. Contact us today to learn more.
Appraisers can frequently have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary roll is only to those third parties who the appraiser knows, based on the scope of work or other written parameters of the order.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - at The August Group Inc. you can rest assured that we adhere to that rule.
We meet or beat the industry standards and guidelines set in place for ethics. We refuse to accept anything less from ourselves. We never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite fraudulent practices since increasing the value of the home would inflate the their paycheck. We don't do that. Other unethical practices may be defined by state law or professional organizations that the appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," "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 going above and beyond to objectively determine the home or property value.
As soon as you order an appraisal from 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.