Critical Thinking & Junk Science

Go Back

Notes

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.2

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 judgments 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.

Cancellation Policy

Any & all cancellations are subject to an admin fee.  No credit/refunds for cancellations made on or after 7 days prior to class.  No credit/refunds for no-shows.  

Additional Information

Seminar check in begins at 8am. The seminar is from 8:30am - 4:30 pm, with a one hour lunch.

We will be in the Biscayne Room.

Includes continental breakfast, lunch and afternoon snack.

Self Parking is free.

Rooms are $75/night + fees. All guests may make their reservations by calling the Reservations Department directly 1.800.777.8477 and selecting option 2 to be connected with a reservation agent. In order to obtain the special group rate, you need to identify themselves as being with group code: ASJN23.

Disclaimer Information

CE Pending in NJ (reciprocal credits with PA and NJ tax Board) and DE, MD, and NY. 

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.