Models database of information technology for valuation of real estate

Abstract

The goal of the research is to find and analyze ways to improve the results of real estate valuation based on a comparative approach. The chosen approach suggests the use of an information technology for the valuation of residential real estate, which is built on the basis of a database of models of decision support systems (DSS). The problem solved with the use of the discussed approach is to establish the degree of similarity between the object under consideration and its analogs by determining the value as an integral quality indicator based on the analysis of value-creating factors. This is followed by the construction of a generalized relationship between the value of this indicator and the prices of analogs. According to the logic of the comparative approach, it is assumed that the obtained relationship holds for the evaluated object as well and can be used in the calculation of its value.
 The formation of the database of models was based on the analysis of information technology processes, where details of functional aspects of process implementation, informational and logical connections between them, rights of access to information environment, and the implementation of processes by different types of users (their roles) were considered. The proposed database of models is built as a mathematical and logical basis of information technology that is applied as a computer tool for appraisers and aims to maximize formalization and efficiency improvement of process implementation based on expert evaluation methods. The construction of the database of models is based on methods of value estimation using multiple criteria, with consideration of their significance, analysis of hierarchies, ranking, Delphi, and user access control based on defined roles.