In mass appraisal, which method is often replaced by the comparative unit method for time efficiency?

The comparative unit method is a streamlined approach to mass appraisal that allows appraisers to determine property values more efficiently by examining characteristics such as size, location, and amenities of similar properties. This method often replaces the cost per square foot method due to time constraints and the increasing need for quicker assessments.

The cost per square foot method can be cumbersome because it typically requires detailed calculations based on specific components of construction and individual property characteristics, which can be labor-intensive and time-consuming. In contrast, the comparative unit method simplifies this process by leveraging data from similar properties to estimate values more expediently.

In a fast-paced appraisal environment, where timely results are critical, the comparative unit method presents a more practical option, enabling appraisers to conduct analyses without the extensive groundwork required by a cost per square foot analysis, making the overall process more efficient.