Discusses the issues confronting the appraisal industry in the USA at the original date of publication (1986). Notes that there was an observable lack of effort by the relevant professional appraisal groups in the USA to provide a continuous and vigorous review of methodology to meet the new challenges of the market‐place. Suggests that it is apparent that improvements in techniques will occur when social institutions become self‐conscious about the adequacy of the procedure, and where the benefits of improvements are perceived to be greater than the cost of implementation.
Graaskamp, J.A. (1992), "Institutional Constraints on, and Forces for, Evaluation of Appraisal Precepts and Practices", Journal of Property Valuation and Investment, Vol. 10 No. 3, pp. 603-618. https://doi.org/10.1108/14635789210031244
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