James & Associates upholds the highest professional ethics

We consider our our job a profession. Requirements to become 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 unquestionably be considered a profession rather than a trade. As with any profession we have a strict ethical code.

For an appraiser the chief obligation is to his or her client. Most of the time, in residential practice, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire to review the appraisal document, you should get it from your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, attaining and keeping a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at James & Associates, we take these ethical responsibilities very to heart.

Appraisers can also have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at James & Associates you can rest assured that we stick to that rule.

When creating reports, we follow the highest ethical standards possible. Doing orders on contingency fees is not something we can consider That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. 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 states 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," "the amount of a value opinion," as well as other situations. We follow these rules to the letter which means you can be assured we are doing everything we can to provide an unbiased determination of the home or property value.

With James & Associates, you can be assured of 100 percent ethical, honest service.