Honesty and Integrity: Altruistic Real Estate Services, LLC

Appraising is typically a long term career. The rigors of becoming a licensed appraiser have increased more than ever in the past. That's why it goes without question in this day and age that real estate appraisal can certainly be dubbed a profession rather than a trade. As with any profession we must follow strict ethical considerations.

As appraisers our primary responsibility is to their client. Typically, for a regular residential appraisal, the appraiser's client is the lender ordering the appraisal. Appraisers have certain duties of privacy to their clients, and as a homeowner, if you would like to review an appraisal report, you generally have to get it through your lender. Other obligations also include, accurate figures appropriate to the parameters of the assignment, reaching and maintaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Altruistic Real Estate Services, LLC, we take these ethical responsibilities very seriously.

Appraisers can regularly have fiduciary responsibilities to third parties, such as homeowners, both buyers and sellers, or others. Typically the third parties are specifically defined in the appraisal report. An appraiser's fiduciary responsibility is restricted to those third parties who the appraiser is aware of, based on the scope of work or other things in the framework of the job.

Appraisers also have duties outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - at Altruistic Real Estate Services, LLC you can rest assured that we adhere to that rule.

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 probably the appraisal industries biggest taboo, because it would invite fraudulent practices since increasing the value of the home would up the their paycheck. We don't do that. Other improper practices may be defined by state law or professional organizations to which an 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," 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 engage Altruistic Real Estate Services, LLC we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.