Gregg Appraisal Company (605) 870-3005 provides honest and ethical appraisals for Union County

Honesty and Integrity: Gregg Appraisal Company (605) 870-3005

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question these days that real estate appraisal can certainly be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.

We have quite a few responsibilities as appraisers, but our main duty is to our clients. Normally, in residential practice, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has contracted in order to maintain independence. Subsequently, appraisers are typically restricted to only disclosing their findings to their clients, so as a homeowner, if you want to obtain a copy of an appraisal report, you generally have to obtain it via your lender and not the appraiser.

Other obligations include accurate calculations appropriate to the nature of the report, acquiring and sustaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Gregg Appraisal Company (605) 870-3005, we take these ethical responsibilities very seriously.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.


	Gregg Appraisal Company (605) 870-3005 has worked hard for its reputation for providing competent and ethically superior appraisals. To learn more, contact us.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Gregg Appraisal Company (605) 870-3005 makes a part of their standard routine.

We meet or exceed the industry standards and guidelines set in place for professional behavior. We refuse to accept anything less from ourselves. Accepting orders where our fee is dependent on our value conclusion is never an option. That is, we are not able to agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's an obvious conflict of interest if an appraiser can report a greater value and then get paid more money! We set ourselves to a higher standard.

Finally, the Uniform Standards of Professional Appraisal Practice (or simply "USPAP") explicitly 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", or "the amount of a value opinion" as well as 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.

As soon as you engage Gregg Appraisal Company (605) 870-3005, we'll make sure you're getting the professional service you deserve along with the high ethical standards we're known for.