For honest and ethical appraisals, count on The PJC Group, LLC.
Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be dubbed a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.
We have quite a few responsibilities as appraisers but our chief duty is to our clients. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you want to review an appraisal report, you normally have to obtain it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and keeping a respectable level of competency and education, and of course, the appraiser must behave in a professional manner. Here at The PJC Group, LLC., we take these ethical responsibilities very seriously.
The PJC Group, LLC. has worked hard for its track record for performing competent and ethically superior appraisals. To learn more Contact us
Appraisers will frequently be required to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.
There are also ethical standards that have nothing to do with whom we share information. For example, appraisers must keep their work files for a minimum of five years - at The PJC Group, LLC. you can rest assured that we abide by that rule.
The PJC Group, LLC. holds itself to the industry standards and rules set in place for ethics. We refuse to accept anything less from ourselves. We never do assignments on contingency fees. That is, we don't 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 no-no, because it would invite appraisal fraud since raising the estimate of the home would raise the their paycheck. 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 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," 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.
With The PJC Group, LLC., you won't have any doubts that you're receiving 100 percent ethical, honest service.