Honesty and Integrity: Absolute Real Estate Appraisers, LLC

Appraising is a profession, and appraisers are professionals. Requirements to become a licensed appraiser have increased more than ever before. So it goes without question these days that real estate appraisal can unquestionably be considered a profession as opposed to a trade. In our field, as with any profession, we must follow strict ethical considerations.

We have a lot of responsibilities as appraisers but first and foremost we answer to our clients. Typically, for a regular residential appraisal, 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 want a copy of the appraisal document, you generally have to request it from your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, attaining and keeping an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Maintaining high ethics is just normal course of business for us at Absolute Real Estate Appraisers, LLC.

Appraisers can also have fiduciary obligations to third parties, such as homeowners, buyers and sellers, or others. Normally the third parties are specifically defined in the appraisal report. An appraiser's fiduciary roll is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the order.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must keep their work files for a minimum of five years - something else Absolute Real Estate Appraisers, LLC makes a part of their standard routine.

We demand the highest professional integrity possible from ourselves. Doing assignments on contingency fees is not something we can consider That is, we don't agree to do an appraisal report and collect payment on the contingency of the loan closing. Another practice that's restricted is doing assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would invite fraudulent practices since raising the value of the home would raise the fee. We don't do that. Other improper practices may be defined by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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 assured we are doing everything we can to objectively determine the home or property value.

With Absolute Real Estate Appraisers, LLC, you won't have any doubts that you're getting 100 percent ethical, professional service.