Honesty and Integrity: Kenny G. Adams, SRAAppraising is a profession, and appraisers are professionals. Requirements to become 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 unquestionably be dubbed a profession rather than a trade. As with any profession we have a strict ethical code.
An appraiser's main responsibility is to their client.
Typically, in residential practice, the lender (or an agent of 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 of these matters with their client. As
a homeowner, if you desire a copy of the appraisal document, you generally have to get it through your lender and not the appraiser.
In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary role is only to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have duties outside of boundaries of with whom we share information For example, appraisers must backup their work files for at least five years - something else Kenny G. Adams, SRA diligently adheres to.
We only perform to the highest ethical standards possible. Working on 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 the fee only if the loan closes. Anyone should be able to see that inflating a value to achieve what amounts to a bigger paycheck is unethical! This isn't how we operate.
Finally, the Uniform Standards of Professional Appraisal Practice clearly describes unethical behavior 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", or "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 doing everything we can to objectively determine the home or property value.
With Kenny G. Adams, SRA, you won't have any doubts that you're receiving 100 percent ethical, professional service.