The influence of a decision support tool on real estate valuations

Tidwell, O. Alan; Gallimore, Paul

doi:10.1080/09599916.2013.819519

Cited by 33 publications

(60 citation statements)

References 35 publications

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“…The T-test (t) is a widely used method to compare two independent groups and tests the differences between mean values (e.g. Tidwell & Gallimore, 2013). In this study, a T-test (t) was used to analyze the differences between the type of business center concept (as a dichotomous variable) and the ratio or interval variables (e.g.…”

Section: Resultsmentioning

confidence: 99%

Differences between business center concepts in The Netherlands

Weijs-Perrée

Appel‐Meulenbroek

Vries

et al. 2016

Property Management

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Section: Resultsmentioning

confidence: 99%

Differences between business center concepts in The Netherlands

Weijs-Perrée

Appel‐Meulenbroek

Vries

et al. 2016

Property Management

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“…Although most studies (e.g. French & Gabrielli, 2004;Tidwell & Gallimore, 2014) highlight inherent market uncertainty, some also include uncertainty in the property object itself. In Joslin, 2005 UK study, commercial property appraisers asserted the presence of uncertainty during the appraisal process.…”

Section: First Decision: Information Sources To Usementioning

confidence: 99%

“…Property appraisers' lack of confidence in appraised values is related to uncertainties at the property market level (Tidwell & Gallimore, 2014). For example, behavioural studies have found that property appraisers who work in unfamiliar markets anchor their valuations on anonymous experts' opinions (Diaz & Hansz, 1997, 2001, but this anchor behaviour is not found in familiar markets (Diaz, 1997).…”

Section: Introductionmentioning

confidence: 99%

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High-impact information types on market value: property appraisers’ information sources and assessment confidence

Bellman

2018

Journal of Property Research

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and law, centre for research on economic relations, Mid sweden university, sundsvall, sweden ABSTRACT This explanatory paper describes and analyses which types of information professional property appraisers perceive to have the most impact on a commercial property's estimated market value, which information sources they primarily use, and how reliable they perceive the information sources to be. The paper also investigates whether appraisers' perceptions differ depending on the location of the business. A sample of 67 authorised property appraisers in Sweden was surveyed using the repertory grid technique as a questionnaire tool (to investigate unconscious behaviour), and nonparametric statistics. Analyses of the data show that four types of information have the greatest impact on estimated market value: the local environment and location are perceived as reliable, and property appraisers have confidence in those assessments; rental income seems problematic, because the property owner is the major source of information; and property appraisers are not confident in assessments based on discount rates. This pattern holds for various geographical locations.

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“…Such experiments have been replicated over time and in various modes. When confronted with unfamiliar settings, evidence of reference point anchoring by US commercial valuers is provided by Hansz (1997, 1997), Hansz (2004b) and Tidwell and Gallimore (2014) using various reference points such as third-party value estimates, pending sales or mortgage amounts or recent transaction prices. Tax value assessments are however, not recognised by US commercial valuers as 'valid' reference points in unfamiliar settings (Cypher & Hansz, 2003).…”

Section: Intrapersonal Valuer Judgement Biasmentioning

confidence: 99%

Research bias in judgement bias studies – a systematic review of valuation judgement literature

Klamer

Gruis

2017

Journal of Property Research

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a faculty of economics and Management, hu university of applied sciences, utrecht, the netherlands; b faculty of humanities, utrecht university, utrecht, the netherlands; c faculty of education, hu university of applied sciences, utrecht, the netherlands; d faculty of architecture and the Built environment, Delft university of technology, Delft, the netherlands ABSTRACT Valuation judgement bias has been a research topic for several years due to its proclaimed effect on valuation accuracy. However, little is known on the emphasis of literature on judgement bias, with regard to, for instance, research methodologies, research context and robustness of research evidence. A synthesis of available research will establish consistency in the current knowledge base on valuer judgement, identify future research opportunities and support decision-making policy by educational and regulatory stakeholders how to cope with judgement bias. This article therefore, provides a systematic review of empirical research on real estate valuer judgement over the last 30 years. Based on a number of inclusion and exclusion criteria, we have systematically analysed 32 relevant papers on valuation judgement bias. Although we find some consistency in evidence, we also find the underlying research to be biased; the methodology adopted is dominated by a quantitative approach; research context is skewed by timing and origination; and research evidence seems fragmented and needs replication. In order to obtain a deeper understanding of valuation judgement processes and thus extend the current knowledge base, we advocate more use of qualitative research methods and scholars to adopt an interpretative paradigm when studying judgement behaviour.

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The influence of a decision support tool on real estate valuations

Cited by 33 publications

References 35 publications

Differences between business center concepts in The Netherlands

Differences between business center concepts in The Netherlands

High-impact information types on market value: property appraisers’ information sources and assessment confidence

Research bias in judgement bias studies – a systematic review of valuation judgement literature

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