The education question — what is more important? The content of appraiser training, or how it is delivered? Appraiser education “marketability” is similar to appraisal marketing itself. Buyers of appraisals and buyers of appraisal education judge by three things: Cheap; Fast; Good. “Pick any two” says David Towne in his graphic. Anyone can provide classes. […]
The developers of EBV (Evidence Based Valuation©) have concluded that best practices are dependent on the needs of the client for reliability and useability of the results. The need of the client is the predicted value (estimate). The goal of a valuation is trueness (accuracy) of the prediction or opinion. The test of any valuation is […]
The valuation “process” (algorithm and model) is universal. What does this mean? It means that it doesn’t matter who does it, who makes decisions, or who ‘inspects’ the property. The science is the same: Systematic study through observation and experiment. Editor’s Note: This is Standards, part 3.19 of George Dell’s series on How Do I […]
EBV (Evidence Based Valuation©) is the future of professional appraisal. EBV is the best response (and advantage) to the dramatic changes in residential appraisal practice. Change in the nature of commercial/industrial valuation will follow, as it usually does. Editor’s Note: This is Standards, part 3.18 of George Dell’s series on How Do I Move to EBV? […]
Appraisal modernization has been touted in different ways. It depends on the touter. “Modernization” is a good word for marketing. But what is “modernization” selling? Is it selling modern technology? The partitioning of appraisal workflow (initiator, AMC manager-selector, data collector-researcher, inspector, analyst, reporter, reviewer, decisioner)? Standardized uniform data sets (UAD) are ever more detailed, subdivided, […]
EBV (Evidence Based Valuation) principles continue to update from legacy “appraisal” practices. Here we hope to have a quick look at the upsides and downsides of EBV, compared to traditional, judgment-based “methods and techniques.” Editor’s Note: This is Standards, part 3.16 of George Dell’s series on How Do I Move to EBV? Links to the […]
We’ve seen the standard which requires an appraiser to use ‘correct’ methods (whatever those may be). And which also requires the appraiser to use ‘sufficient’ care (whatever that is). All part of the legacy USPAP Uniform Standards of Professional Appraisal Practice. Be correct and be careful! Editor’s Note: This is Standards, part 3.15 of George […]
Quasi-government “Congressionally-authorized” appraisal standards require “correct” research and analyses. What does that mean? What is correct? And who decides? It’s in Standard 1. Be correct. Editor’s Note: This is Standards, part 3.14 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. Does this say – it’s […]
Assume what condition your assumption is in! Editor’s Note: This is Standards, part 3.13 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. Assumptions are a critical part of all analyses or reasoning logic. Assumptions about assumptions are interesting. Two starting points are assumed: 1) the […]
Scope of Work is what you plan to do. It requires you to identify the problem and identify the work necessary. The goal of USPAP (Uniform Standards of Professional Appraisal Practice) is credibility. The appraiser should be “worthy of belief.” A measure of reliability or usefulness of the appraisal is not required. Editor’s Note: This […]
Scope of Work is required in legacy appraisal practice. Data Science (and Evidence Based Valuation) are more based on principles of good science. Editor’s Note: This is Standards, part 3.11 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. To sum up, the goal of traditional […]
How do you measure “close enough” to a market value? We have standards you know! Editor’s Note: This is Standards, part 3.10 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. Valuation is numbers. Some numbers are numbers, like building SqFt. Other numbers are exact like […]
The USPAP “Competency Rule” is straightforward. It says you must be competent! For any given assignment, “being competent” requires the appraiser to: “properly” identify the problem; have knowledge and experience to be competent; recognize and comply with applicable laws and regulations. Editor’s Note: This is Standards, part 3.9 of George Dell’s series on How Do […]
Is USPAP biased? (Appraisal Foundation, Uniform Standards of Professional Appraisal Practice) Is this possible? It can’t be! This part 8 of a multipart look at issues in valuation standards. Editor’s Note: This is Standards, part 3.8 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. Let’s […]
Workfile is required, (or not?). This part 7 of a multipart look at issues in valuation standards. Editor’s Note: This is Standards, part 3.7 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. USPAP WORKFILE The “workfile” concept works well as an effort at documenting an […]