Honesty and Integrity: Bullseye Valuation Group
We think of what we do as a profession. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can definitely be considered a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.
As appraisers our primary responsibility is to their client. Normally, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to review an appraisal report, you should get it through your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and maintaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Bullseye Valuation Group, we take these ethical responsibilities very seriously.
Bullseye Valuation Group has worked hard for its track record for completing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers can also have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the job.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must backup their work files for at least five years - at Bullseye Valuation Group you can rest assured that we stick to that rule.
Bullseye Valuation Group holds itself to the industry standards and rules 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 don't 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 probably the appraisal industries biggest no-no, 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 to which an appraiser belongs.
The Uniform Standards of Professional Appraisal Practice (USPAP) also defines 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," "the amount of a value opinion," as well as other situations. We 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.
When you engage Bullseye Valuation Group we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.