For honest and ethical appraisals, trust The August Group Inc.

By and large, appraising a long term career. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be called a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have a lot of responsibilities as appraisers but first and foremost we answer to our clients. Normally, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you would like to review the appraisal document, you should obtain it from your lender. Other obligations also include, numerical accuracy depending on the assignment's nature, attaining and maintaining a certain level of competency and education, and the appraiser must conduct him or herself as a professional. Here at The August Group Inc., we take these ethical responsibilities very seriously.

Appraisers may frequently have fiduciary obligations to third parties, such as homeowners, both sellers and buyers, or others. Typically the third parties are clearly 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 standards that have nothing to do with whom we share information. For example, appraisers must be able to produce their work files for a minimum of five years - something else The August Group Inc. takes very seriously.

When creating reports, we follow the highest ethical standards possible. Doing orders on contingency fees is never an option. That is, we don't agree to do an appraisal report and get paid only if the loan closes. We don't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would tend to make appraisers up the value of homes or properties to increase their fee. We don't do that. Other unprofessional practices may be defined by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics 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 going above and beyond to objectively determine the home or property value.

As soon as you request an appraisal from The August Group 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.