Barriers in achieving quality valuations: the New Zealand perspective

Purpose - To inform ways of improving valuation quality, this study seeks to understand the lived experiences of practising valuers regarding the challenges of conducting quality valuations. Design/methodology/approach - This study adopts a qualitative strategy involving 19 semi-structured interviews with valuers in New Zealand. The interview data were analysed using progressive comparative analysis and the constant comparative method, which yielded comprehensive and well-founded conclusions. Findings - The data analysis revealed several challenges that hinder the improvement and maintenance of valuation quality. These challenges were categorised into nine key areas, covering a wide range of issues, including a wide scope of practice, lack of experienced valuers, inappropriate use of graduate valuers, stakeholder expectations, access to relevant information, differing approaches, valuer attitudes and dissatisfaction with compensation. Practical implications - The findings of this study have the potential to inform the valuation profession and other stakeholders about the challenges that practising valuers face in conducting quality valuations, which can ultimately lead to improvements in the valuation process. Originality/value - This study contributes to the valuation literature, by highlighting the lived experiences of valuers in terms of the potential and challenges pertaining to valuation quality improvement. This has been an area that has received limited attention in the past, and an understanding of these issues has the potential to approach valuation quality in new and innovative ways.