For honest and ethical appraisals, count on Hickmon Realty, Inc.By and large, appraising is a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.
We have a lot of responsibilities as appraisers, but our main duty is to our clients.
Generally, in residential practice, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
Subsequently, appraisers have certain duties of confidentiality to their clients, plus strict rules and regulations that must be followed. So, as
a homeowner, if you want a copy of the appraisal document, you normally have to request it from your lender.
In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, 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 be able to produce their work files for at least five years - at Hickmon Realty, Inc. you can rest assured that we adhere to that rule.
Hickmon Realty, Inc. holds itself to the industry standards and rules set in place for professional behavior. We can't accept anything less from ourselves. Doing assignments where our fee is dependent on our value conclusion is not something we can consider. That is, we can't agree to do an appraisal report and get paid only if the loan closes. Anyone should be able to see that fabricating a property's value to achieve what amounts to a bigger paycheck is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice also describes 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", 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 confident we are doing everything we can to get you an accurate home or property value.
As soon as you engage Hickmon Realty, Inc., we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for.