Which action is considered a primary responsibility of an appraiser?

The primary responsibility of an appraiser is to analyze the property value against neighborhood sales, which involves assessing comparable properties that have recently sold in the area to determine a fair market value for the property in question. This process, known as the sales comparison approach, is fundamental to appraisals as it relies on actual market data and trends. By carefully evaluating the characteristics of both the subject property and comparable sales, the appraiser can provide an objective estimate of value that reflects the current market conditions.

This role is essential because it directly impacts decisions made by buyers, sellers, and lending institutions. Accurate appraisals are critical in facilitating transactions and ensuring fair prices are established within the market.

While conducting inspections of the property is an important task for an appraiser, it primarily serves the purpose of gathering data necessary for the valuation process rather than being the ultimate objective of their responsibilities. Determining property financing options and collaborating with real estate agents are roles more aligned with real estate professionals or mortgage lenders rather than the appraiser's core duties.