JBN Valuation Services, LLC maintains the utmost professional ethics

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can certainly be considered a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.

An appraiser's main obligation is to their 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 would like to obtain a copy of the appraisal document, you should get it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, attaining and sustaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is is what we do everyday at JBN Valuation Services, LLC.

Appraisers will regularly be obligated to consider the interests of third parties, including homeowners, sellers and buyers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - something else JBN Valuation Services, LLC takes very seriously.

We require the highest ethical standards possible from ourselves. Working on orders that contingency fees is never an option. That is, we can't agree to do an appraisal report and get paid only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal industries most important rule, because it would invite appraisal fraud since raising the value of the home would increase the their paycheck. We set ourselves to a higher standard. 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 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 diligently follow these rules to the letter which means you can be at ease knowing we are doing everything we can to objectively determine the home or property value.

With JBN Valuation Services, LLC, you can be assured of 100 percent ethical, honest service.