Honesty and Integrity: Benchmark Appraisal Services, Inc.We think of what we do as a profession. Requirements to become a licensed appraiser have become more difficult than ever in the past. That's why it goes without question these days that real estate appraisal can certainly be considered a profession as opposed to a trade. In our field, as with any profession, we have a strict ethical code.
An appraiser's primary responsibility is to their client.
Most of the time, for a normal residential appraisal, the appraiser's client is the lender ordering the appraisal, and often the appraisal is ordered by a third party the lender has contracted in order to maintain independence.
Thereon, appraisers are typically limited to only disclosing information to their clients, so as
a homeowner, if you would like a copy of an appraisal report, you generally have to request it through your lender instead of the appraiser.
Appraisers will sometimes need to consider the interests of third parties, such as homeowners, buyers and sellers, or others. Those third parties normally are spelled out in the appraisal assignment itself. An appraiser's fiduciary duty is only 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 with whom we share information For example, appraisers must backup their work files for a minimum of five years - at Benchmark Appraisal Services, Inc. you can rest assured that we abide by that rule.
We require the highest professional integrity possible from ourselves. Doing orders based on contingency fees is never an option. In other words, we can't agree to do an appraisal report and base our pay upon coming up with a particular value conclusion. There's a definite conflict of interest if an appraiser can report a greater value with the reward of getting paid more money!
Finally, the Uniform Standards of Professional Appraisal Practice clearly describes 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", or "the amount of a value opinion" in addition to other situations We follow these rules to the letter which means you can be at ease knowing we are going above and beyond to get you an accurate home or property value.
With Benchmark Appraisal Services, Inc., you can be assured of 100 percent ethical, professional service.