Critical Thinking & Junk Science

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Notes

Cancellation Policy

Cancellation Policy:

- Up to 15 days prior to program start date, $25.00 cancellation fee. 

- 7-14 days prior to program start date, $50.00 cancellation fee.

- Less than 7 days prior to program start date, forfeit of payment.   

Transfer Policy:

- A $25 dollar fee is required to be paid to transfer into another program at any time prior to the program start date. 

Additional Information

SCHEDULE:

September 26, 2024 (Central Time Zone)

Registration: 7:30 a.m. central time

Class Begins: 8:00 a.m. central time

This class is being offered in person at the Roundtable Meeting Room & Event space located at 1648 W Massey Rd #200.  There is also an option to attend this class via ZOOM as it is a hybrid offering.  

Please be sure to register for the version you prefer as there are two separate registration links. 

Course Overview:

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

framework.

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 and

conditions.

3. Logical Fallacies. Appraisers should avoid invalid or faulty reasoning. USPAP sets forth

guidance on a variety of issues, and the Appraisal Institute sets forth many established

methodologies.

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 should 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. Valuation judgements must promote transparency, minimize subjective factors,

be applied objectively to avoid biased analyses, opinions and conclusions.

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.

National Disclaimer

This Educational Program was developed by an outside party. The Appraisal Institute Chapter made arrangements for the Third-Party to offer the Program with the intent of addressing topic(s) based on a certain chapter or local need for such topic, solely educational and informational purposes. The Appraisal Institute national organization was not involved in developing or organizing the Program and does not endorse the Program or its content.

The content of this Program, including but not limited to any written materials and presenter comments, does not represent the viewpoint of the Appraisal Institute (defined as including but not limited to, the national organization, its Regions, Chapters, members, candidates, affiliates and staff) unless formally adopted by the national Board of Directors. Further, the Appraisal Institute has not peer-reviewed or approved the content of the Program and does not warrant the accuracy or timeliness of the content of the Program. The Appraisal Institute does not publish examination review materials. The content of the Program is subject to court decisions and local, state and federal laws and regulations and any such revisions of such laws and regulations.

This Program is presented with the understanding that the Appraisal Institute is not engaged in rendering legal, accounting or other professional advice or services. Nothing in the Program is to be construed as the offering of such advice or services. If expert advice or services are required, attendees and readers are responsible for obtaining such advice or services from appropriate professionals.