During the reconciliation process, the appraiser should never do what with the value indications?

During the reconciliation process, the appraiser should avoid averaging the value indications into a single estimate as it can overlook the nuances and specific characteristics of each value. Averaging tends to simplify the conclusions derived from various approaches and may mask significant differences that could impact the final estimate. Each value indication, arising from different methods or premises, may hold varying levels of reliability based on market conditions, property specifics, or the data used.

By assessing each value independently and giving consideration to how they align with current market trends, the appraiser is better positioned to form a more accurate and defensible conclusion for the property's value. Additionally, calculating the median value can be a useful approach, as it provides another way to summarize the data without being overly influenced by outliers, but it still allows for a detailed examination of each source of value indication. Therefore, the practice of averaging can dilute the appraisal's integrity, making it essential that appraisers refrain from this method during reconciliation.