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Pricing to Market - Property Valuation Models in the context of Regulatory Definitions

Author

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  • Nick French
  • Laura Gabrielli

Abstract

Property valuation is a service to a client by a professional valuer. But, more than that, it is an objective exercise to provide a price estimate for property in the current market. A valuer provides a valuation in accordance with professional standards. In teh UK, valuations are carried out in accordance with the RICS Valuation – Global Standards 2017 (Red Book) which themselves have adopted the International Valuation Standards 2017 of the International Valuation Standards Council (IVSC). This paper looks at the importance of linking valuation approaches, methods and models to the appropriate regulation. It also looks at how this information is conveyed to the client.In a world where there is a greater demand for transparency and context, the valuer needs to look at the way in which valuation information is used, reconciled and reported. Through a targeted survey, leading valuers are asked their opinion of how the existing process works and how it might be improved.

Suggested Citation

  • Nick French & Laura Gabrielli, 2018. "Pricing to Market - Property Valuation Models in the context of Regulatory Definitions," ERES eres2018_285, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2018_285
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2018-285
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    Cited by:

    1. Pierluigi Morano & Paolo Rosato & Francesco Tajani & Benedetto Manganelli & Felicia Di Liddo, 2019. "Contextualized Property Market Models vs. Generalized Mass Appraisals: An Innovative Approach," Sustainability, MDPI, vol. 11(18), pages 1-28, September.
    2. Mohammad Aghaei, 2021. "Valuation of the Hamrah-e-Aval brand based on brand valuation models using Topsis multi-criteria decision-making model," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 20(1), pages 42-53, February.

    More about this item

    Keywords

    Market Value Price; Valuation Approaches; Valuation Methods; Valuation Models.; Valuation Regulation;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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