When significant differences exist between the conclusions of the three approaches to value, which action should the appraiser NOT take?

• A. Explain the basis for reconciled value
• B. Modify analyses and conclusions to tighten up the range
• C. Reflect uncertainties in the final value
• D. Provide a range of values

Answer: (B)

When three approaches to value diverge significantly, you don’t force a single number by tightening the range. Instead, you explain the basis for the reconciled value, acknowledge the uncertainties, and present a range of values that reflects the variability in the data and methods. Weigh each approach by its reliability, data quality, and applicability to the property, and adjust weightings or seek additional data if warranted. Providing a range and discussing why the approaches disagree communicates the true level of uncertainty and avoids implying a false precision. Artificially narrowing the range would misrepresent the evidence and precision, which is not appropriate.