Honesty and Integrity: RMG Appraisals, LLC

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. So it goes without question these days that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we have a strict ethical code.

The appraiser's main responsibility is to his or her client. Typically, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you desire to obtain a copy of an appraisal report, you should get it through your lender. Other obligations also include, numerical accuracy depending on the scope of the assignment, reaching and sustaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at RMG Appraisals, LLC, we take these ethical responsibilities very seriously.

Appraisers will sometimes be obligated to consider the interests of third parties, including homeowners, buyers and sellers, or others. Generally the third parties are explicitly defined in the appraisal report. An appraiser's fiduciary roll is restricted to those third 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 backup their work files for a minimum of five years - at RMG Appraisals, LLC you can rest assured that we abide by that rule.

RMG Appraisals, LLC holds itself to the industry standards and rules set in place for ethics. We refuse to accept anything less from ourselves. Doing assignments on contingency fees is not something we can consider 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 probably the appraisal industries most important rule, because it would invite appraisal fraud since increasing the value of the home would raise the fee. We don't do that. Other improper practices may be defined by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior 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 follow these rules to the letter which means you can be at ease knowing we are going above and beyond to provide an unbiased determination of the home or property value.

When you order an appraisal from RMG 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.