Do consumers of appraisal services generally pay more for an appraisal when market data is scarce, or when it is readily available?
Basic economics tells us the consumer will pay less when greater information is available. However, consumers of appraisal services are turning to other sources for property information and valuation – accounting firms, economists, realty analysts, etc. – because they are not readily able to access the information and analysis they need to make various real estate related decisions. Through greater access to data and sharing in the data sales revenue, Appraisal Institute members will be able to capitalize on new appraisal opportunities that they currently may not be able to pursue. The fast-changing commercial real estate industry is creating many new data ventures. With the Commercial Database, Appraisal Institute members can be leaders in the Information Age, instead of simply following everybody else. Leadership of the Appraisal Institute, its Board of Directors and its Long Range Planning Committee, have all independently recognized this opportunity, and moved swiftly to secure the
Related Questions
- Do consumers of appraisal services generally pay more for an appraisal when market data is scarce, or when it is readily available?
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