Key Takeaways
- Apply the 12-point quality checklist to every acquisition analysis.
- Valuation errors come from data, methodology, and cognitive bias—controls address all three.
- AVMs are screening tools only; always verify with actual comparable sales.
- Deliberate practice with exercises improves valuation accuracy over time.
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Test Your Knowledge
1.Which cognitive bias causes investors to fixate on the listing price when performing their own valuation?
2.A 10% overpayment on a property compounds to approximately what total return drag over a 10-year hold?
3.What percentage of appraisals have county assessor square footage that differs from measured square footage by more than 5%?