Hobbs Valuation Services maintains the utmost professional ethics

We think of our job as a profession. Requirements to become 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 as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.

The appraiser's main obligation is to their client. Typically, in residential practice, 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 generally have to request it through your lender. Other obligations also include, accurate figures appropriate to the scope of the assignment, reaching and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Hobbs Valuation Services , we take these ethical responsibilities very seriously.

In some cases appraisers will have fiduciary responsibilities to third parties, including homeowners, both buyers and sellers, or others. Typically the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is limited to those third parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must store their work files for a minimum of five years - at Hobbs Valuation Services you can rest assured that we adhere to that rule.

We meet or beat the industry standards and mandates set in place for professional behavior. We won't accept anything less from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. We don't do assignments on percentage fees. That is perhaps the appraisal industries biggest taboo, because it would tend to make appraisers inflate the value of homes or properties to increase their fee. We don't do that. Other improper practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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 diligently follow these rules to the letter which means you can be assured we are doing everything we can to provide an unbiased determination of the home or property value.

With Hobbs Valuation Services , you won't have any doubts that you're receiving 100 percent ethical, honest service.