McCormick Real Estate Services of Tennessee maintains the utmost professional ethicsWe think of our job as a profession. 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 called a profession rather than a trade. In our field, as with any profession, we have a strict ethical code.
We have quite a few obligations as appraisers, but our main duty is to our clients.
Typically, for a regular residential appraisal, the lender (or an agent of the lender) places the order to the appraiser, becoming the appraiser's client.
It follows that appraisers are privy to a lot of data, and like an attorney, can only discuss many of these matters with their client. As
a homeowner, if you desire to review the appraisal document, you generally have to obtain it from your lender and not the appraiser.
Appraisers will regularly be obligated to consider the interests of third parties, including homeowners, both buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary responsibility is only to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.
Appraisers also have rules outside of boundaries of clients and others. For example, appraisers must keep their work files for a minimum of five years - at McCormick Real Estate Services of Tennessee you can rest assured that we adhere to that rule.
While busy with an order, we follow the highest ethical standards possible. Working on assignments where our fee is dependent on our value conclusion is never an option. In other words, we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. It should be obvious that inflating a value to achieve essentially a bigger paycheck is unethical! We just don't do it.
Finally, the Uniform Standards of Professional Appraisal Practice explicitly states a violation in ethics 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" in addition to other situations We follow these rules to the letter which means you can rest easy knowing we are doing everything we can to provide an unbiased determination of the home or property value.
With McCormick Real Estate Services of Tennessee, you won't have any doubts that you're getting 100 percent ethical, honest service.