TY  - JOUR
AB  - American real estate appraisers given identical valuation problems produced statistically different value estimates. The measured variable between experimental groups was an agency‐client treatment operationalized as a pending mortgage scenario. This finding is consistent with the view of anchoring as a routinized response to agent‐client concerns. Experienced appraisers may develop heuristic behaviors which subconsciously sensitizes them to agency‐client considerations. Although further research is warranted, this study provides initial experimental evidence of a causal link between agency‐client concerns and valuation bias.
VL  - 22
IS  - 3
SN  - 1463-578X
DO  - 10.1108/14635780410538177
UR  - https://doi.org/10.1108/14635780410538177
AU  - Hansz J. Andrew
PY  - 2004
Y1  - 2004/01/01
TI  - The use of a pending mortgage reference point in valuation judgment
T2  - Journal of Property Investment & Finance
PB  - Emerald Group Publishing Limited
SP  - 259
EP  - 268
Y2  - 2024/04/16
ER  -