If All Appraisal Methods Are Appropriate for Use in Valuing

question 13

Multiple Choice

If all appraisal methods are appropriate for use in valuing a particular property, there is a clear order of preference that real estate professionals adhere to. Which of the following depicts the preferred order, with the most preferable approach being listed first and the least preferable listed last?

• A) Sales comparison approach, cost approach, income approach
• B) Income approach, Sales comparison approach, cost approach
• C) Cost approach, income approach, sales comparison approach
• D) Sales comparison approach, income approach, cost approach

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Definitions:

Standardized Scoring

A method of assessment that uses uniform procedures to ensure consistent scoring across different evaluators or test instances.

Structured Interviews

Structured interviews are a systematic way of asking questions in which the interviewer follows a set sequence and the questions are predetermined to ensure consistency across all interviews.

Subjective Judgments

Subjective Judgments are opinions or decisions based on personal feelings, tastes, or opinions rather than objective facts or evidence.

Unstructured Interviews

Unstructured Interviews are qualitative interviews without a set script or format, allowing for open-ended responses and a flexible discussion.