Regional Real Estate Appraisal Service maintains the highest 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 these days that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. As with any profession we must follow strict ethical considerations.

For an appraiser the main responsibility is to his or her client. Typically, for a standard residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are privy to a lot of information, and like an attorney can only discuss many matters with their client. As a homeowner, if you want to review an appraisal report, you should obtain it through your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and sustaining a particular level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Regional Real Estate Appraisal Service, we take these ethical responsibilities very seriously.

Appraisers can also have fiduciary obligations 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 parties who the appraiser is aware of, based on the scope of work or other things in the framework of the order.

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 - at Regional Real Estate Appraisal Service you can rest assured that we abide by that rule.

We meet or beat the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. Working on assignments that contingency fees is never an option. That is, we don'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 most important rule, because it would invite appraisal fraud since raising the value of the home would increase the their paycheck. We don't do that. Other improper practices may be established 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," in addition to other situations We diligently follow these rules to the letter which means you can be at ease knowing we are working hard to provide an unbiased determination of the home or property value.

With Regional Real Estate Appraisal Service, you can be assured of 100 percent ethical, honest service.