For honest and ethical appraisals, count on Real Estate Appraisal Professionals, Inc.

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question in this day and age that real estate appraisal can unquestionably be considered a profession rather than a trade. In our field, as with any profession, we are bound by ethical considerations.

We have many responsibilities as appraisers but our main duty is to our clients. More often than not, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. 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 would like a copy of the appraisal document, you generally have to obtain it from your lender. Other obligations also include, accurate calculations appropriate to the nature of the assignment, acquiring and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Real Estate Appraisal Professionals, Inc. , we take these ethical responsibilities very seriously.

Appraisers will frequently be required to consider the interests of third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary roll 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 store their work files for a minimum of five years - at Real Estate Appraisal Professionals, Inc. you can rest assured that we stick to that rule.

Real Estate Appraisal Professionals, Inc. holds itself to the industry standards and rules set in place for ethics. We can't accept anything less from ourselves. Working on orders that contingency fees is never an option. That is, we are not able to 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 probably the appraisal professions most important rule, because it would invite fraudulent practices since raising the estimate of the home would increase the fee. We set ourselves to a higher standard. Other unethical 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 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 rest easy knowing we are working hard to provide an unbiased determination of the home or property value.

With Real Estate Appraisal Professionals, Inc. , you can be assured of 100 percent ethical, professional service.