GEGE Development Consulting, 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 in the past. So it goes without question in this day and age that real estate appraisal can definitely 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 primary duty is to our clients. Normally, for a typical residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of confidentiality to their clients, and as a homeowner, if you require a copy of an appraisal report, you should get it from your lender. Other obligations also include, accurate sums appropriate to the parameters of the report, acquiring and maintaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at GEGE Development Consulting, LLC., we take these ethical responsibilities very seriously.

Appraisers may sometimes have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are clearly defined in the appraisal report. 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 job.

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 GEGE Development Consulting, LLC. you can rest assured that we stick to that rule.

We require the highest professional integrity possible from ourselves. Doing assignments on contingency fees is never an option. 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 biggest taboo, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We don't do that. 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 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 rest easy knowing we are working hard to provide an unbiased determination of the home or property value.

When you engage GEGE Development Consulting, LLC. we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.