This section is from the book "Practical Real Estate Methods For Broker, Operator & Owner", by Thirty Experts. Also available from Amazon: Practical Real Estate Methods for Broker, Operator, Owner.
The province of the appraiser is to determine value at any given time and under all conditions. He should possess the following qualifications:
First: A solid experience in buying and selling real property covering a period of several years. This gives his mind a kind of drill in the habit of considering all the various conditions that affect value. In the course of his business he is compelled to listen to criticisms of property and also to criticise it himself, and to form judgments of value, and to discuss values with those who are about to buy or to sell and whose interest is most acute to know values accurately. It is only by thus coming into direct contact with actual facts that he can make his knowledge practical and worth something to others as well as to himself.
Second: A thorough familiarity with neighborhood conditions with some knowledge of neighborhood history.
Third: A broad knowledge of prevailing industrial and social developments at large, such as will aid him to discover present tendencies and forecast future prospects with a fair degree of accuracy. Temperamentally the appraiser should not be given to great enthusiasms or undue depressions. He should always be able to give logical reasons for his opinions when such are asked for, and to justify his judgment to the minds of others. In order to meet this last requirement it will be necessary for him to found every judgment upon a basic synthesis satisfactory to his own mind, which, when subjected to analysis, shall show every step toward the conclusion to be reasonably established and the conclusion to be a just result