Which of the following is NOT one of the seven steps of the appraisal process?

The seven steps of the appraisal process are a structured guideline that appraisers follow to ensure a thorough and accurate valuation. Among these, data collection and analysis, highest and best use, and scope of work are critical components that help define the parameters, context, and relevant data needed to make informed appraisals.

Market segmentation, while a useful concept in understanding how to differentiate types of properties and their respective markets, is not formally listed as one of the seven steps in the appraisal process. This step could be viewed as a strategy to analyze different types of markets, but it does not fit into the core procedural outline established for property appraisal.

Understanding the correct steps of the appraisal process is essential for ensuring consistent and reliable valuations, and recognizing what does not belong helps reinforce the proper framework that appraisers must adhere to in their evaluations.