IDEAS home Printed from https://ideas.repec.org/a/vrs/remava/v28y2020i4p93-103n8.html
   My bibliography  Save this article

Today's Market Needs Modernized Property Appraisers

Author

Listed:
  • Źróbek Sabina

    (Department of Spatial Analysis and Real Estate Market, University of Warmia and Mazury in Olsztyn, Poland)

  • Kucharska-Stasiak Ewa

    (Faculty of Economics and Sociology, University of Łódź, Poland)

  • Renigier-Biłozor Małgorzata

    (Department of Spatial Analysis and Real Estate Market, University of Warmia and Mazury in Olsztyn, Poland)

Abstract

The article identifies and provides a synthetic overview of various concepts relating to the evolution of the real estate market and property valuation. According to the authors, the processes observed on the real estate market necessitate changes in training programs for property valuers. Real estate appraisers should be able to cope with new consumer expectations and requirements, and they should be well versed in modern technological solutions and analytical tools. The study indicates that, in order to face the challenges of the modern world, the appraisal profession should undergo a paradigm shift to embrace the fact that real estate is a commodity and that globalization is inevitable on the real estate market. Due to the high value of urban areas, a modern specialist determining the value of real estate is particularly needed there. Property valuers should develop new analytical skills, and they should rely on modern data processing tools to collect and process information. Additionally, recent events, including the COVID-19 pandemic, demonstrate that property appraisers should be better prepared for dealing with unprecedented circumstances. The training curricula proposed in this article should increase property valuers’ competencies and effectively support real estate market entities and sustainable urban development.

Suggested Citation

  • Źróbek Sabina & Kucharska-Stasiak Ewa & Renigier-Biłozor Małgorzata, 2020. "Today's Market Needs Modernized Property Appraisers," Real Estate Management and Valuation, Sciendo, vol. 28(4), pages 93-103, December.
    • Handle: RePEc:vrs:remava:v:28:y:2020:i:4:p:93-103:n:8
    DOI: 10.1515/remav-2020-0034
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/remav-2020-0034
    Download Restriction: no
    File URL: https://libkey.io/10.1515/remav-2020-0034?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Renigier-Biłozor, Malgorzata & Janowski, Artur & d’Amato, Maurizio, 2019. "Automated Valuation Model based on fuzzy and rough set theory for real estate market with insufficient source data," Land Use Policy, Elsevier, vol. 87(C).
    2. repec:arz:wpaper:eres2013-edu-106 is not listed on IDEAS
    3. Tom Johannes Kauko, 2013. "Educational aspects of residential value analysis methodology," ERES eres2013_edu_106, European Real Estate Society (ERES).
    4. Pim Klamer & Cok Bakker & Vincent Gruis, 2018. "Complexity in valuation practice: an inquiry into valuers’ perceptions of task complexity in the Dutch real estate market," Journal of Property Research, Taylor & Francis Journals, vol. 35(3), pages 209-233, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Renigier-Biłozor, Małgorzata & Źróbek, Sabina & Walacik, Marek & Janowski, Artur, 2020. "Hybridization of valuation procedures as a medicine supporting the real estate market and sustainable land use development during the covid-19 pandemic and afterwards," Land Use Policy, Elsevier, vol. 99(C).
    2. Aneta Chmielewska & Małgorzata Renigier-Biłozor & Artur Janowski, 2022. "Representative Residential Property Model—Soft Computing Solution," IJERPH, MDPI, vol. 19(22), pages 1-24, November.
    3. Doan, Quang Cuong, 2023. "Determining the optimal land valuation model: A case study of Hanoi, Vietnam," Land Use Policy, Elsevier, vol. 127(C).
    4. Sisman, S. & Aydinoglu, A.C., 2022. "Improving performance of mass real estate valuation through application of the dataset optimization and Spatially Constrained Multivariate Clustering Analysis," Land Use Policy, Elsevier, vol. 119(C).
    5. Michalis Doumpos & Dimitrios Papastamos & Dimitrios Andritsos & Constantin Zopounidis, 2021. "Developing automated valuation models for estimating property values: a comparison of global and locally weighted approaches," Annals of Operations Research, Springer, vol. 306(1), pages 415-433, November.
    6. Renigier-Biłozor, Małgorzata & Źróbek, Sabina & Walacik, Marek & Borst, Richard & Grover, Richard & d’Amato, Maurizio, 2022. "International acceptance of automated modern tools use must-have for sustainable real estate market development," Land Use Policy, Elsevier, vol. 113(C).
    7. Małgorzata Renigier-Biłozor & Sabina Źróbek & Marek Walacik, 2022. "Modern Technologies in the Real Estate Market—Opponents vs. Proponents of Their Use: Does New Category of Value Solve the Problem?," Sustainability, MDPI, vol. 14(20), pages 1-18, October.
    8. Janowski, Artur & Renigier-Biłozor, Małgorzata & Walacik, Marek & Chmielewska, Aneta, 2021. "Remote measurement of building usable floor area – Algorithms fusion," Land Use Policy, Elsevier, vol. 100(C).
    9. Sabina Zrobek & Oleksandra Kovalyshyn & Małgorzata Renigier‐Biłozor & Stepan Kovalyshyn & Oleg Kovalyshyn, 2020. "Fuzzy logic method of valuation supporting sustainable development of the agricultural land market," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(5), pages 1094-1105, September.
    10. Yalpir, Sukran & Sisman, Suleyman & Akar, Ali Utku & Unel, Fatma Bunyan, 2021. "Feature selection applications and model validation for mass real estate valuation systems," Land Use Policy, Elsevier, vol. 108(C).

    More about this item

    Keywords

    appraisal profession; education; property valuation; real estate market;
    All these keywords.

    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:remava:v:28:y:2020:i:4:p:93-103:n:8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.