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

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever before. So it goes without question in this day and age that real estate appraisal can unquestionably be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.

For an appraiser the main responsibility is to their client. Normally, for a standard residential appraisal, the appraiser's client is the lender ordering the appraisal. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you desire to obtain a copy of the appraisal document, you normally have to request it through your lender. Other obligations also include, accurate figures appropriate to the scope of the assignment, attaining and keeping an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics and client confidentiality is standard operating procedure for us at REVARI (Real Estate Valuation and Research Inc.).

Appraisers may sometimes have fiduciary responsibilities to third parties, such as homeowners, buyers and sellers, or others. Generally the third parties are clearly defined in the appraisal report. An appraiser's fiduciary responsibility is only to those parties who the appraiser knows, based on the scope of work or other things in the framework of the assignment.

There are also ethical duties that have nothing to do with whom we share information. For example, appraisers must backup 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 demand the highest professional integrity possible from ourselves. We have a responsibility not to do assignments on contingency fees. That is, we can't agree to do an appraisal report and collect payment on the contingency of the loan closing. We can't do assignments on percentage fees. That is perhaps the appraisal professions most important rule, because it would tend to make appraisers increase the value of homes or properties to increase their fee. We don't do that. Other unprofessional practices may be defined by state law or professional societies that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also defines unethical behavior 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," in addition to other situations We diligently follow these rules to the letter which means you can be confident we are working hard to objectively determine the home or property value.

As soon as you request an appraisal from REVARI (Real Estate Valuation and Research Inc.) we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.