Start Date: 8/27/2024 6:00 PM PDT
End Date: 8/27/2024 8:00 PM PDT

Venue Name: Virtual Event - ZOOM

Organization Name: REAA

The Art of Writing a Better Reconciliation

A Virtual Event via ZOOM

Cost: $30 members, $60 non-members

A key element of a quality appraisal lies in the appraiser's skill to succinctly summarize each valuation approach and integrate these findings into a cohesive final market value for a home. Sadly, many appraisers speed through this crucial step, often failing to provide a clear and comprehensible summary for their clients.    Often, appraisers rely on boilerplate language to list the approaches they employed or omitted, rather than delving into an explanation of their data and final conclusions.  "The Art of Writing Better Reconciliation" delves into the essentials of what appraisers need to do in their reconciliation process and how they can craft meaningful summaries that robustly support their valuations.


Topics include:
-Guidance from BREA
-What USPAP requires
-Client Expectations 
-Case Studies 
-Factors to consider when completing 1004 URAR
-Tools & templates to help summarize your final reconciliation of value

In their recent newsletter, BREA has stressed the importance of having a quality reconciliation in reports and points to USPAP Standards Rule 1-6(a) as a guiding principle: In developing real property appraisal, an appraiser must reconcile the quality and quantity of data available and analyzed within the approaches used.

"The key phrase in the above USPAP references is "quality and quantity." Were the comparables you found recent, proximate, and/or similar to the subject? How many comparables were available? Did you have to go outside of the defined subject neighborhood to find sales? Why? And which, of all the sales data available, was most similar sale (or sales) to the subject, and why?" (BREA Fall/Winter Newsletter 2023)

Instructor, Amy Parker