Used by an appraiser to estimate the value of real estate. The three approaches are: cost approach, income approach and market data approach.
The procedures used by appraisers to derive value indications. The three fundamental approaches are (1) sales comparison approach, (2) cost approach and (3) income approach.
The various acceptable methods used by appraisers in deriving an estimate of value. There are three traditional approaches to value: (1) cost approach, (2) sales comparison approach, and (3) income approach.