What essential quality is required of a review appraiser?

The essential quality required of a review appraiser is a strong understanding of various appraisal methods. This knowledge is crucial because a review appraiser's primary role is to evaluate the accuracy and credibility of another appraiser's work. They must be able to assess whether the methodologies used in the original appraisal are appropriate for the property type and the market conditions.

Understanding various appraisal methods allows the review appraiser to critically analyze the data, assumptions, and conclusions drawn in the original report. This competency ensures that the review appraiser can provide a fair and informed evaluation, which is essential for maintaining the integrity of the appraisal process, especially in situations where significant financial decisions are made based on appraisal outcomes.