Smart Appraisers Make Dumb Mistakes?

[Terrel L. Shields]

I am not sure that USPAP lets appraisers make mistakes in reality...yeah, they claim you can be less than perfect...but...

Can Smart Appraisers Make Dumb Mistakes? - George Dell, SRA, MAI, ASA, CRE

I am a smart and educated, award-winning appraiser. Doesn’t he know how smart I am? Why, even my peers have agree with me.

georgedell.com

The real problem comes as smart people come to assume that they are less vulnerable to bias, simply because they are so educated, experienced, and intelligent.​

 

[Elliott]

What are the standards for a peer review committee or a reviewer? Is it really Standard No. 3? When's the last time anyone has seen a SOW and signed certification on a "review" matter by a reviewer or peers? I had a recent issue with a AMC Chief Appraiser and I wanted to ask for , "so what's your support for your opinion, let's see your Standard 2 work....." but knew it would mean turning around and questioning the Homeplate Umpire.

My opinion on Peer Review is its a farce and the compelled standards are never really met.

Is is possible to develop 5 USPAP compliant adjustments from 6 recent sales that each have 7 variable elements?

 

[gregb]

How can any appraiser quote a fee to review an appraisal before seeing the actual appraisal? Half the time no new comparables are required, I end up not accepting the adjustments or wanting my own adjustments, resulting in a value conclusion inconsistent with the one put forth in the appraisal under review.

 

[Joe Flacco]

Critical thinking, education, and intelligence has nothing to do with bias.

 

[Joe Flacco]

These algorithm people crack me up for real.

 

[Tim The Enchanter]

I bet even Albert Einstein made some stupid mistakes in his life.

 

[ucbruin]

But who would know....

 

[Tom Woolford]

I bet even Albert Einstein made some stupid mistakes in his life.

He called the inclusion of the cosmological constant into general Relativity his biggest mistake. Hubble showed the CC was correct but for the wrong reason.

 

[Terrel L. Shields]

Critical thinking, education, and intelligence has nothing to do with bias.

I think you just made George Dells case for him. You cannot see your own bias because you've convinced yourself you aren't....and you are or you couldn't function. Bias is not a deliberate act of fraud. It is a systematic way your brain functions.

 

[Joe Flacco]

I think you just made George Dells case for him. You cannot see your own bias because you've convinced yourself you aren't....and you are or you couldn't function. Bias is not a deliberate act of fraud. It is a systematic way your brain functions.

I mean people naturally have biases. Being smart or intelligent has nothing to do with having biases or not. I don't know what that has anything to do with valuation bias.