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In Search of Causes of Biased Property Valuations

Author(s): Sabina Źróbek, Ewa Kucharska-Stasiak, Radosław Cellmer
Subject(s): National Economy, Business Economy / Management
Published by: Fundacja Uniwersytetu Ekonomicznego w Krakowie
Keywords: property valuer; real estate; ethics in valuation

Summary/Abstract: The guiding principle of the conducted research was the thesis that one of important reasons for biased property valuations are unethical behaviours of property appraisers and their customers. The term ‘customer’ in the article is used when it refers to an immediate recipient (user) of an appraisal report. The results of the literature analysis of the subject and the own results of previous empirical studies, including the questionnaire responses given by Polish property appraisers largely confirmed the validity of this assumption. The research revealed, among others: most often individuals, investors, banks and municipalities tried to change the valuation result, while most rarely it was attempted by tax offices. Further detailed analyses of the collected material allowed formulating further observations, for example, that the valuation bias was not influenced by the age and experience of an appraiser.

  • Issue Year: 3/2018
  • Issue No: 105
  • Page Range: 17-22
  • Page Count: 6
  • Language: Polish