Honesty and Integrity: STEVEN GIANNINI & ASSOCIATES

We consider our our job a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can certainly be considered 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 first and foremost we answer to our clients. Generally, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. 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 desire a copy of an appraisal report, you should obtain it through your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, reaching and keeping a certain level of competency and education, and of course, the appraiser must behave in a professional manner. Here at STEVEN GIANNINI & ASSOCIATES, we take these ethical responsibilities very to heart.

Appraisers can sometimes have fiduciary obligations to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are defined in scope of 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 keep their work files for a minimum of five years - something else STEVEN GIANNINI & ASSOCIATES makes a part of their standard routine.

STEVEN GIANNINI & ASSOCIATES holds itself to the industry standards and mandates set in place for professional behavior. We can't accept anything less from ourselves. Working on assignments that contingency fees is not something we can consider 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 biggest taboo, because it would invite fraudulent practices since increasing the value of the home would inflate the their paycheck. We don't do that. Other unprofessional practices may be established by state law or professional societies to which an 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 follow these rules to the letter which means you can be assured we are working hard to objectively determine the home or property value.

As soon as you order an appraisal from STEVEN GIANNINI & ASSOCIATES we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.