The August Group Inc. maintains the highest professional ethics
We think of our job as 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 unquestionably be called a profession rather than a trade. In our field, as with any profession, we are bound by an ethical code.
For an appraiser the primary obligation is to their client. Generally, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want to review the appraisal document, you generally have to request it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at The August Group Inc., we take these ethical responsibilities very to heart.
The August Group Inc. has worked hard for its reputation for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will often be obligated to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the order.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else The August Group Inc. makes a part of their standard routine.
The August Group Inc. holds itself to the industry standards and mandates set in place for ethics. We refuse to accept anything less from ourselves. Doing orders on contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We set ourselves to a higher standard. Other improper practices may be established by state law or professional organizations to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also 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," "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 working hard to objectively determine the home or property value.
With The August Group Inc., you won't have any doubts that you're getting 100 percent ethical, honest service.