Appraisal practice
Reconciliation
Weighing the value indications from each approach to reach one final opinion
The appraiser weights whichever approach the data supports best for this property and states a single opinion. It is judgment, not arithmetic, and it deliberately is not an average.
How the exam asks about it
Averaging the three approaches is the standard wrong answer, because it gives equal weight to an approach the appraiser knows is weak for this property.
Related terms
Sitting the license exam? Find out what you actually know.
Free practice questions built to the published national content outline, with an explanation after every answer. No account, no paywall.
Independent exam preparation. Real Estate Exam Bank is not a state-approved pre-licensing course and completing anything here does not satisfy any state education requirement. Not affiliated with, endorsed by, or authorized by any state real estate commission, Pearson VUE, or PSI. Practice questions here are original study material, not the official exam.