Honesty and Integrity: Richard J. Ward, SRA

We consider our job a profession. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be considered a profession as opposed to a trade. As with any profession we have a strict ethical code.

We have many responsibilities as appraisers, but our primary duty is to our clients. Generally, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers are privy to a lot of data, and like an attorney can only discuss many matters with their client. As a homeowner, if you require to obtain a copy of an appraisal report, you generally have to get it from your lender. Other obligations also include, accurate calculations appropriate to the parameters of the assignment, acquiring and sustaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics and client confidentiality is what we do everyday at Richard J. Ward & Associates. Richard Ward provides honest and ethical appraisals for Middlesex County

Richard Ward has an established reputation for performing appraisals with the highest of ethics. Contact us today to learn more.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.

There are also ethical rules that have nothing to do with clients and others. For example, appraisers must store their work files for at least five years - at Richard Ward you can rest assured that we stick 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 are not able to agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers up the value of homes or properties to increase their paycheck. 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 defines 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," as well as other situations. We follow these rules to the letter which means you can be at ease knowing we are working hard to objectively determine the home or property value.

When you request an appraisal from Richard J. Ward & Associates, we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.