We follow a strict Code of Ethics as follows:
Diminished Value Method, LLC Code of Ethics
Each employee of Diminished Value Method, LLC acknowledges the importance of principles such as personal integrity, professional competence, and fundamental ethics, and as such he/she agrees:
* We shall always conduct ourselves in a responsible and professional manner and use fair and equitable business practices when rendering appraisal services.
* We shall encourage and promote the highest level of ethical and professional conduct within the appraisal profession;
* We shall not misrepresent our role when providing valuation services that are outside of appraisal practice.
* We shall perform assignments ethically and competently in accordance with USPAP and any supplemental standards agreed to by the appraiser in accepting the assignment.
* We shall not engage in criminal conduct;
* We shall perform assignments without partiality. We must have objectivity and independence, and be without accommodation of personal interest. We will provide opinions which are objective, impartial and unbiased.
* We shall not advocate the cause or interest of any party or issue
* We shall not accept an assignment that includes the reporting of a pre-determined opinion or conclusion.
* We shall not communicate assignment results in a misleading or fraudulent manner.
* We shall not use or communicate a misleading or fraudulent report or knowingly permit an employee or other person to communicate a misleading or fraudulent report.
* We shall not use or rely on unsupported conclusions relating to characteristics such as race, color, religion, national origin, gender, marital status, family status, age, receipt of public assistance income, handicap, or an supported conclusion that homogeneity of such characteristics is necessary to maximize value.
* We will not accept payment of undisclosed fees, commissions or things of value in connection with the procurement of an assignment.
* We will not accept compensation for performing an assignment when it is contingent upon:
- the reporting of a predetermined result;
- a direction in assignment results that favors the cause of a client;
- the amount of a value opinion;
- the attainment of a stipulated result; or
- the occurrence of a subsequent event directly related to the appraiser’s opinions and specific to the assignment’s purpose.
* We will not advertise for, or solicit assignments, in a manner that is false, misleading or exaggerated.
* We shall protect the confidential nature of the appraiser-client relationship.
* We shall act in good faith with regard to legitimate interest of the client and the use of confidential information and in the communication of assignment results.
* We shall be aware of and comply with all confidentiality and privacy laws and regulations applicable in an assignment.
* We shall not disclose confidential information or assignment results prepared for a client to anyone other than the client and persons specifically authorized by the client; state enforcement agencies and such third parties as may be authorized by due process of law; or a duly authorized professional peer review committee except when such disclosure to a committee would violate applicable law or regulation.
* It is unethical for a member of a duly authorized professional peer review committee to disclose confidential information presented to the committee.
* We shall prepare a work file for each appraisal. The file must include the name of the client and the identity, by name or type, of any other intended users; true copies of any written reports, documented on any type of media; summaries of any oral reports or testimony, or a transcript of testimony, including the appraiser’s signed and dated certification; and all other data, information, and documentation necessary to support the appraiser’s opinions and conclusions and to show compliance with this rule and all other applicable standards, or references to the location(s) of such other documentation.
* We shall retain the work file for a period of at least five (5) years after preparation or at least two (2) years after final disposition of any judicial proceeding in which testimony was given, whichever period expires last, and have custody of his or her work file, or make appropriate work file retention, access and retrieval arrangements with the party having custody of the work file.
* We shall disclose the lack of knowledge and/or experience to the client before accepting the assignment, take all necessary steps appropriate to complete the assignment competently, and describe the lack of knowledge and/or experience and the steps taken to complete the assignment competently in the report.
* The appraiser must disclose any interest the appraiser has in any item(s) being appraised.
* We shall sign the Certification of value in the report.
* We shall not affix the signature of another without consent.
* We shall not willfully, knowingly, violate the requirements of the record keeping rule, or any other required ethics as mandated by USPAP.
* The appraiser certifies that he/she has not appraised or had any other involvement with the property appraised unless prominently disclosed to the client prior to acceptance of the engagement.
* The appraiser must disclose that he/she paid a fee or commission, or gave a thing of value in connection with the procurement of an assignment. The disclosure will be made on the Certification page.
* The appraiser must include a signed Engagement Agreement within the Appraisal Report.