I believe experience can teach lessons which may lead to sound judgment. I believe sound judgment is vital in selecting the critical factors for appraisal. But, I also believe the bright 17 year old high school student in elementary astronomy can do a better job estimating the distance to the Moon than the Old Man of the Mountains who has looked at the Moon for 80 years.
So, I find it difficult to accept the notion that dependable valuation of real estate is nothing more than experience and judgment. I would not give a red cent for an appraisal by the 'expert' who beats his breast and shouts; 'I don't have to give reasons. I've had 40 years experience in this business. And this property is worth so much because I say so.'
After all, value is expressed as a number. And no man lives who, through experience, has all numbers so filed in the convolutions of his brain that he can be relied upon to choose the right one without explicable analysis and calculation. Established in 1997, Skolnik Real Estate Consulting Services is celebrating its 11th year!
So, I find it difficult to accept the notion that dependable valuation of real estate is nothing more than experience and judgment. I would not give a red cent for an appraisal by the 'expert' who beats his breast and shouts; 'I don't have to give reasons. I've had 40 years experience in this business. And this property is worth so much because I say so.'
After all, value is expressed as a number. And no man lives who, through experience, has all numbers so filed in the convolutions of his brain that he can be relied upon to choose the right one without explicable analysis and calculation. Established in 1997, Skolnik Real Estate Consulting Services is celebrating its 11th year!
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