Blackstone Realty & Appraisals, Inc. maintains the utmost professional ethics

We consider our our job a profession. The rigors of becoming a licensed appraiser have become more difficult than ever before. That's why it goes without question these days that real estate appraisal can certainly be considered a profession as opposed to a trade. As with any profession we are bound by an ethical code.

For an appraiser the main responsibility is to their client. More often than not, for a regular residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Appraisers are required to only disclosing information to their clients, and as a homeowner, if you want a copy of an appraisal report, you generally have to get it from your lender. Other responsibilities also include, numerical accuracy depending on the assignment's nature, attaining and sustaining an appropriate level of competency and education, and of course, the appraiser must behave in a professional manner. Here at Blackstone Realty & Appraisals, Inc., we take these ethical responsibilities very seriously.

Appraisers can often have fiduciary responsibilities to third parties, including homeowners, both sellers and buyers, or others. Those third parties normally are defined in the appraisal assignment itself. An appraiser's fiduciary responsibility is restricted to those parties who the appraiser is aware of, based on the scope of work or other written parameters of the assignment.

There are also ethical duties that have nothing to do with clients and others. For example, appraisers must be able to produce their work files for at least five years - something else Blackstone Realty & Appraisals, Inc. takes very seriously.

We require the highest ethical standards possible from ourselves. Working on assignments that contingency fees is not something we can consider 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 no-no, because it would invite fraudulent practices since increasing the estimate of the home would increase the fee. We don't do that. 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 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," in addition to other situations We diligently follow these rules to the letter which means you can be at ease knowing we are doing everything we can to provide an unbiased determination of the home or property value.

When you request an appraisal from Blackstone Realty & Appraisals, 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.