Today's Market Needs Modernized Property Appraisers

Źróbek Sabina (), Kucharska-Stasiak Ewa () and Renigier-Biłozor Małgorzata ()
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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

Real Estate Management and Valuation, 2020, vol. 28, issue 4, 93-103

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.

Keywords: appraisal profession; education; property valuation; real estate market (search for similar items in EconPapers)
JEL-codes: D80 L85 Q01 R00 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:remava:v:28:y:2020:i:4:p:93-103:n:8

DOI: 10.1515/remav-2020-0034

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