Honesty and Integrity: RJS AppraisalsWe think of what we do as a profession. Requirements to become a Certified Residential Appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can, without a doubt, be dubbed a profession as opposed to a trade. As with any profession we have a strict ethical code.
We have a lot of responsibilities as appraisers, but our chief duty is to our clients. Most of the time, 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. Appraisers are typically restricted to only disclosing information to their clients, so as a homeowner, if you would like to review the appraisal document, you generally have to get it via your lender and not the appraiser.
There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary role is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the assignment.
There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - at RJS Appraisals you can rest assured that we adhere to that rule.
We only perform to the highest ethical standards possible. Completing orders where our fee is dependent on our value conclusion is not something we can consider. That means we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. Anyone should be able to see that fabricating a home's value to achieve essentially a bigger fee is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice explicitly states a violation in ethics 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 rest easy knowing we are doing everything we can to get you an accurate home or property value.
With RJS Appraisals, you won't have any doubts that you're receiving 100 percent ethical, professional service.