Honesty and Integrity: Hagan Real Estate, Inc.
We think of our job as a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. As with any profession we must follow strict ethical considerations.
As appraisers our chief obligation is to his or her client. Typically, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire to obtain a copy of an appraisal report, you normally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, acquiring and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Hagan Real Estate, Inc., we take these ethical responsibilities very to heart.
Hagan Real Estate, Inc. has an established reputation for providing competent and ethically superior appraisals. Contact us today to learn more.
Appraisers will often be obligated to consider the interests of third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in scope of the appraisal assignment itself. An appraiser's fiduciary roll 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 order.
Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else Hagan Real Estate, Inc. takes very seriously.
We demand the highest professional integrity possible from ourselves. Working on assignments that contingency fees is never an option. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We don't do assignments on percentage fees. That is probably the appraisal professions biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We don't do that. Other unprofessional practices may be established by state law or professional societies that the 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 diligently follow these rules to the letter which means you can be at ease knowing we are going above and beyond to objectively determine the home or property value.
As soon as you engage Hagan Real Estate, Inc. we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.