 Honesty and Integrity: MJR ResidentialWe consider what we do as a profession. Requirements to become a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
An appraiser's chief responsibility is to their client.
Generally, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It follows that appraisers have certain duties of confidentiality to their clients, plus many rules and regulations that must be followed. As
a homeowner, if you would like to review the appraisal document, you generally should obtain it through your lender.
Appraisers may also have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary role is limited to those parties who the appraiser is aware of, based on the scope of work or other things in the framework 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 a minimum of five years - at MJR Residential you can rest assured that we abide by that rule. MJR Residential holds itself to the industry standards and mandates set in place for professional behavior. We refuse to accept anything less from ourselves. Doing assignments based on contingency fees is never an option. In other words, we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's an obvious conflict of interest if an appraiser can report an unsubstantiated value and then get paid more money! This isn't how we operate. Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") clearly 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", 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 assured we are going above and beyond to objectively determine the home or property value. With MJR Residential, you won't have any doubts that you're receiving 100 percent ethical, honest service. |
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