Honesty and Integrity: T Gibson Real Estate Appraisals LLC

By and large, appraising a long term career. Requirements to become a licensed appraiser have become more difficult 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 rather than a trade. As with any profession we have a strict ethical code.

We have quite a few obligations as appraisers but above everything we answer to our clients. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you would like to review the appraisal document, you normally have to get it from your lender. Other responsibilities also include, accurate figures appropriate to the scope of the assignment, acquiring and maintaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at T Gibson Real Estate Appraisals LLC, we take these ethical responsibilities very to heart.

Appraisers can also have fiduciary obligations to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary responsibility is limited to those parties who the appraiser knows, based on the scope of work or other written parameters of the job.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must store their work files for a minimum of five years - at T Gibson Real Estate Appraisals LLC you can rest assured that we adhere to that rule.

We demand the highest ethical standards possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we don't agree to do an appraisal report and get paid only if the loan closes. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite appraisal fraud since increasing the value of the home would up the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be defined by state law or professional societies 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 confident we are going above and beyond to provide an unbiased determination of the home or property value.

When you engage T Gibson Real Estate Appraisals LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.