Modern Challenges Facing the Valuation Profession and Allied University Education in Poland

Abstract

The paper indentifies and synthesizes the observed changes in the role of the property valuer on the property market. The authors of this paper provide a perspective on the changes in the educational programs for valuers. The main challenge for valuation professionals lies in developing a deeper understanding of market globalization and better analytical skills, with a view to assessing accurate values. The educational system at the university level should encompass programmes which will prepare valuers for providing proper advice affecting important investment decisions of real estate market participants. They stress the role of international and national organizations in re-shaping the profile of the valuer. The current critical attitude towards the valuation profession has forced the European body representing valuers, namely The European Group of Valuers’ Associations (TEGoVA) to speed up the harmonisation of the valuation practice in order to forestall more rigorous control by the EU. In response to this, all the major internationally recognised standard setting bodies, such as the above-mentioned TEGoVA and The Royal Institution of Chartered Surveyors (RICS), are considering the need to add “risk analysis” to valuation reports. Such development should significantly affect future valuation educational and training programmes which will need to present a more holistic approach to real estate as an asset class.

Selected aspects of real estate appraisers' professional training on the background of economic theory

“…Universities in the world should also harmonize their syllabus in training of specialist of property market and property valuers. Prospects exist for property valuers to expand their current skill to entirely new disciplines, such as in the fi eld of business valuations, with their expertise being utilised for business mergers, purchases and disposals (Gilbertson andPreston, 2005, Źróbek andGrzesik, 2013). Th us the importance of economic knowledge and integrated understanding of property value is increasing.…”

Valuation for Loan Security Purposes in the Context of a Property Market Crisis - The Case of the United Kingdom and Poland

“…The educational system at the university level should encompass programs which will prepare valuers for providing proper advice affecting important investment decisions of real estate market participants (ŹRÓBEK, GRZESIK 2013 ).…”

Conditions of the Professionalization of the Surveying Graduate Profile in Poland.

“…For this purpose, Polish universities establish and maintain special committ ees tasked with constantly improving the curricula. Several publications [30,29,17] have discussed the problem of dialogue between "academics" and "practitioners" in the fi eld of property appraisal and other disciplines. In their opinion, the teaching curricula in the fi eld of geodesy and property appraisal should competently prepare graduates for work in state and local government units; design offi ces, enterprises related to land management, including those operating in the fi eld of appraisal, development agencies, consulting companies, business environment companies, in their own companies dealing with property appraisal, research institutions and research and development centres [8].…”