Final answer:
An appraiser would first perform a site analysis to determine the "highest and best use" of a property, considering local factors and immediate environmental impacts.
Step-by-step explanation:
To obtain the "highest and best use" of a property, an appraiser would first do a site analysis. This type of analysis requires assessing a specific location to determine its suitability for a certain use. A site analysis takes into account various factors such as economic competition, traffic patterns, real estate costs, local demographics like socio-economic status, ethnicity, and age structures. It is a crucial first step before other analyses like neighborhood or regional analyses are conducted because it provides a detailed view of the immediate environment that could affect a property's potential. Furthermore, a site location analysis is instrumental for businesses or government entities to optimize the placement of facilities and can guide strategic decisions on where to establish or potentially close a business or public service.