Much has been made of geographic competence in the commercial appraisal world. Our firm covers a vast geographic region that includes several states. Maybe that's why this particular topic peaks my interest. It's not uncommon to receive calls from out of state for requests to appraise property in Kentucky or one of the other states where we provide … [Read more...]
Cavemen, Commercial Appraisers, and Geographic Competence
The topic of geographic competence is all the rage these days among commercial appraisers. Here's why: The commercial appraisal industry is regulated by the Uniform Standards of Professional Appraisal Practice (USPAP). Understandably, USPAP specifies that an appraiser must be 'geographically competent' and become familiar with local market … [Read more...]