Valuation Bias: The Invisible Fence of Racial Discrimination

• Recognize how historic events of the past impact real estate in the present.
• Recognize the difference between structural racism and personal bias.
• Recognize how bias can be inserted into valuation methods and techniques.
• Recognize bias concepts addressed in professional standards and compare them to racial discriminatory practices in real world settings.
• Identify and evaluate how to manage solutions to address valuation bias.

Program Overview:

Introduction (10 minutes)

Module 1: Valuation Bias – How Did We Get Here? (75 minutes)

• Module 1 Preview
• Identification of Terms
• Historical Perspectives on Bias
• Structural Bias in Real Estate
• Participants in the Bias Construct
• Module 1 Review

Module 2: Valuation Bias – An Appraiser’s Perspective (75 minutes)

• Module 2 Preview
• Two Fundamental Categories of Bias
• Explicit Bias
• Implicit Bias
  • Confirmation bias
  • Hindsight bias
  • Self-serving bias
  • Anchoring bias
  • Availability bias
• Bias and the Valuation Process
• Module 2 Review

Module 3: Valuation Bias – The Appraiser’s Ethical Obligations (70 minutes)

• Module 3 Preview
• USPAP and Fair Housing Laws
• Valuation Bias - Supported and Unsupported
• Communication and Valuation Bias
• Module 3 Review

Module 4: Valuation Bias – Managing Solutions (30 minutes)

• Module 4 Preview
• Working Toward a Balanced Perspective
• Closer Look at Guide Note 18
• Practical Solutions to Valuation Bias
• Alternative Solutions to Consider
• Module 4 Review

Conclusion (5 minutes)

Assignments:
No

Equipment:
None

Additional Information:

Requirements:
Online Education System Requirements