Honesty and Integrity: REVARI (Real Estate Valuation and Research Inc.)

Appraising is, by and large, a long term career. Requirements to become a licensed appraiser have increased more than ever before. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by an ethical code.

An appraiser's chief responsibility is to his or her client. More often than not, in residential practice, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you would like to review the appraisal document, you generally have to request it from your lender. Other responsibilities also include, accurate calculations appropriate to the scope of the report, attaining and maintaining an appropriate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at REVARI (Real Estate Valuation and Research Inc.), we take these ethical responsibilities very seriously.

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

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must keep their work files for at least five years - something else REVARI (Real Estate Valuation and Research Inc.) makes a part of their standard routine.

We meet or beat the industry standards and guidelines set in place for professional behavior. We won't accept anything less from ourselves. Doing orders on 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 don't do assignments on percentage fees. That is probably the appraisal industries biggest no-no, because it would invite appraisal fraud since increasing the value of the home would inflate the their paycheck. We don't do that. Other improper practices may be established by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states a violation in ethics as accepting 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 confident we are going above and beyond to objectively determine the home or property value.

With REVARI (Real Estate Valuation and Research Inc.), you won't have any doubts that you're getting 100 percent ethical, professional service.