How can experience affect the reliability of an appraisal?

Experience plays a crucial role in enhancing the reliability of an appraisal. When appraisers have more experience, they gain valuable insights into various factors that influence property values, such as local market conditions, property characteristics, and historical pricing trends. This accumulated knowledge helps them make more informed decisions, leading to more accurate assessments.

Highly experienced appraisers are also better at recognizing patterns and anomalies in the data they analyze. Their ability to draw on past experiences allows them to identify what constitutes typical behavior in a specific market, as well as to spot unusual trends that could affect a property's value. Furthermore, they've likely developed a network of contacts, which can provide additional context and support for their evaluations.

In summary, experience provides the necessary framework to assess properties with a greater degree of confidence, ultimately increasing the reliability and accuracy of appraisals.