BQS Realty Inc Appraisals upholds the utmost professional ethics

Appraising is a profession, and appraisers are professionals. The rigors of becoming a licensed appraiser have increased more than ever in the past. So it goes without question these days that real estate appraisal can unquestionably be dubbed a profession as opposed to a trade. In our field, as with any profession, we are bound by ethical considerations.

The appraiser's main responsibility is to their client. Typically, for a standard 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 require a copy of an appraisal report, you generally have to obtain it through your lender. Other obligations also include, accurate calculations appropriate to the nature of the assignment, attaining and sustaining an adequate level of competency and education, and of course, the appraiser must behave in a professional manner. Maintaining high ethics is is what we do everyday at BQS Realty Inc Appraisals.

BQS Realty Inc Appraisals provides honest and ethical appraisals for Cook County

BQS Realty Inc Appraisals has an established reputation for producing competent and ethically superior appraisals. Contact us today to learn more.

In some cases appraisers will have fiduciary responsibilities to third parties, such as homeowners, sellers and buyers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. 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 order.

Appraisers also have standards outside of boundaries of clients and others. For example, appraisers must store their work files for at least five years - something else BQS Realty Inc Appraisals makes a part of their standard routine.

We meet or beat the industry standards and mandates set in place for ethics. We can't accept anything less from ourselves. We never do assignments on contingency fees. That is, we don't agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is probably the appraisal professions most important rule, because it would invite appraisal fraud since increasing the estimate of the home would increase the their paycheck. We set ourselves to a higher standard. Other unprofessional practices may be established by state law or professional societies to which an appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states 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," as well as other situations. We follow these rules to the letter which means you can rest easy knowing we are going above and beyond to provide an unbiased determination of the home or property value.

As soon as you order an appraisal from BQS Realty Inc Appraisals we'll make sure you're getting the professional service you expect along with the ethical handling of appraisals that we're known for.