An appraiser writes that the approaches were given equal weight because each was fully developed. What is wrong with this reasoning?
Correct Answer
B) Development effort is not evidence of reliability
Why this is correct: The thoroughness of development (effort) does not equate to the reliability or relevance of the approach's result. Weight should be based on the quality and applicability of the data and how well the approach reflects market behavior for the specific property. Why the other choices are wrong: Developing all three does not mandate equal weight. Equal weighting is not prohibited, but it must be justified by the evidence, not by effort. The cost approach can receive equal weight if supported. Exam tip: Weight is about evidence quality and market logic, not about how hard you worked on an approach.
Why This Is the Correct Answer
Why this is correct: The thoroughness of development (effort) does not equate to the reliability or relevance of the approach's result. Weight should be based on the quality and applicability of the data and how well the approach reflects market behavior for the specific property. Why the other choices are wrong: Developing all three does not mandate equal weight. Equal weighting is not prohibited, but it must be justified by the evidence, not by effort. The cost approach can receive equal weight if supported. Exam tip: Weight is about evidence quality and market logic, not about how hard you worked on an approach.
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