Critical Thinking & Junk ScienceRegister
- September 24, 2024
- Birmingham, AL
- Alabama-Mississippi Chapter
- Randall Bell, MAI, PhD
Michael Tachovsky, PHD
- Full Price
- AI Price
Who Should Enroll
Additional Course Offerings
Address: 1903 29th Ave S
Homewood, AL 35209
New Autograph Collection
2655 Lane Park Road
Please Note: There is not a group rate or room block being held at either of these. They are merely suggestions on where to stay.
September 24, 2024 (Central Time Zone)
- Registration: 8:00 a.m. central time
- Class Begins: 8:30 a.m. central time
The Uniform Standards of Professional Appraisal Practice (USPAP) establishes a framework that
appraisers use when developing an opinion of value. The valuation process is a systematic
procedure an appraiser follows to provide answers to a client’s questions about real property value.1
It is a model that can be adapted to a wide variety of issues related to value, mass value, review,
litigation support or consulting assignments.
The goal of the valuation process is to deliver well-researched and supportable conclusions. The
Critical Thinking & Junk Science course includes both principles and case studies for the appraisal
professional. The three approaches to value (cost, income and sales comparison), coupled with
complex issues set forth in USPAP AO-9 (cost, use and risk effects) established a solid valuation
Critical Thinking and Junk Science expands an appraiser’s professional skill set by focusing upon
five topics within the context of real estate valuation:
1.Epistemologies. The academic community has long identified research methods to collect
and build credible knowledge and are discussed within the context of valuation.
2. Critical Thinking. Appraisers must employ an objective analysis that allows them to form
credible opinions, especially when involving complex or “atypical” properties.
3. Logical Fallacies. Appraisers should avoid invalid or faulty reasoning and comply with
USPAP, and established methodologies primarily set forth by the Appraisal Institute.
4. Cognitive Bias. Appraisers should avoid any systematic pattern of deviation from rationality
or established standards and ethics of the appraisal profession.
5. Junk Science. Appraisers must avoid unproven or untested tactics or theories when
presenting an opinion of value. These tactics are explored, along with how to rebut them.
Appraisers are licensed professionals, and their opinions should be unbiased and reflect credible
value conclusions.3 Valuation judgements must promote transparency, minimize subjective factors,
be applied objectively to avoid biased analyses, opinions and conclusions.
4.Understanding these complexities helps develop a credible opinion of value. While many of these
issues are addressed throughout USPAP, professional literature and coursework, this course focuses
on them in a single framework.