Which bias is demonstrated when an appraiser uses a file of comps from 10 months earlier and fails to perform any new research to value the subject property?

• A. Anchoring bias
• B. Availability bias
• C. Recency bias
• D. Confirmation bias

Answer: (B)

Availability bias is at play when someone relies on information that is easiest to obtain rather than what is most current or relevant. Here, the appraiser uses a file of comps from ten months ago and doesn’t do any new research, so the valuation is shaped by what’s readily at hand rather than by up-to-date market data. That readily accessible old data can mislead because it may not reflect current values or conditions. While anchoring or recency bias might involve other ways of weighting information, the core issue is relying on information that’s readily available instead of actively seeking newer, more relevant data. The fix is to pull fresh comps and update the analysis to mirror current market dynamics.