Honesty and Integrity: Brunstetter Appraisal

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have become more difficult than ever before. So it goes without question in this day and age that real estate appraisal can definitely be called a profession as opposed to a trade. As with any profession we have a strict ethical code.

We have a lot of responsibilities as appraisers but above everything we answer to our clients. Typically, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have rules and regulations they must follow, including keeping many matters private for their clients a homeowner, if you would like to obtain a copy of an appraisal report, you generally have to get it from your lender. Other obligations also include, accurate sums appropriate to the nature of the report, acquiring and sustaining a particular level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Brunstetter Appraisal, we take these ethical responsibilities very seriously.

Appraisers will frequently be obligated to consider the interests of third parties, such as homeowners, both buyers and sellers, or others. Those third parties normally are listed in the appraisal assignment itself. An appraiser's fiduciary duty is only to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the order.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - something else Brunstetter Appraisal makes a part of their standard routine.

When creating reports, we follow the highest ethical standards possible. Doing orders 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. We can't do assignments on percentage fees. That is perhaps the appraisal professions biggest no-no, because it would invite fraudulent practices since increasing the value of the home would up the fee. We set ourselves to a higher standard. 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 confident we are working hard to objectively determine the home or property value.

When you request an appraisal from Brunstetter Appraisal 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.