Much has been written about allegations of appraisal bias throughout the profession. In this special report, we focus on the different solutions to the issue being embraced and explored by all facets of the appraisal profession. From a hearing in Washington, D.C., to the forthcoming PAREA (Practical Applications of Real Estate Appraisal) plan, industry groups are taking concrete steps to address appraisal bias.
“Appraisal Bias: A Search for Solutions” tells appraisers what they need to know about the issue and successful practices they can employ to avoid problematic reports. We examine:
- The technological tools being designed for appraisers to use to help ensure fair valuations.
- The terminology and wording that can raise red flags in appraisal reports.
- The effects discriminatory bias can have on equity and generational wealth building.
- One Chicago-area Black homeowner’s experience getting his renovated house appraised.
- The work that has already been done in the industry and future plans to help prevent appraisal bias.
This report is available as a free download.