Dec 01, 2016 - 08:38 AM
When the value opinion to be developed is market value, an appraiser must, if such information is available to the appraiser in the normal course of business, analyze all agreements of sale, options, and listings of the subject property current as of the effective date of the appraisal.
 See Advisory Opinion 24, Normal Course of Business.
Also, for an Appraisal Report, the Comment to Standards Rule 2-2(a)(viii) states, in part:
When reporting an opinion of market value, a summary of the results of analyzing the subject sales, agreements of sale, options, and listings in accordance with Standards Rule 1-5 is required. If such information is unobtainable, a statement on the efforts undertaken by the appraiser to obtain the information is required. If such information is irrelevant, a statement acknowledging the existence of the information and citing its lack of relevance is required.
 See Advisory Opinion 1, Sales History.