Honesty and Integrity: John Bock

We consider our our job a profession. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can definitely be called a profession rather than a trade. As with any profession we are bound by an ethical code.

We have a lot of responsibilities as appraisers but our chief duty is to our clients. Typically, in residential practice, the appraiser's client is the lender ordering the appraisal. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you require to review the appraisal document, you should get it from your lender. Other obligations also include, numerical accuracy depending on the assignment parameters, attaining and keeping an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at John Bock, we take these ethical responsibilities very to heart.

In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are spelled out in scope of the appraisal assignment itself. An appraiser's fiduciary duty is restricted to those third parties who the appraiser knows, based on the scope of work or other things in the framework of the job.

There are also ethical rules that have nothing to do with whom we share information. For example, appraisers must keep their work files for at least five years - something else John Bock takes very seriously.

We only perform to the highest ethical standards possible. Doing assignments on contingency fees is never an option. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is probably the appraisal industries most important rule, because it would tend to make appraisers raise the value of homes or properties to increase their paycheck. We don't do that. Other improper practices may be established 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 diligently 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.

With John Bock, you won't have any doubts that you're getting 100 percent ethical, honest service.