Appraisal Company Research Articles

Оценка: тренды развития бизнеса после COVID-19

Research methodology for studying the strategic potential of Russian appraisal companies is based on "Strategic Matrix of a Company" software package, whose algorithm implies analysis of qualitative and quantitative indicators that allow to create a complete profile of the company and to prepare a scenario forecast of its development. The main qualitative parameters under analysis include such criteria as the degree of innovation and services differentiation, the level of competition and the company's position in the market, priority of certain strategic goals in the company's activities, effectiveness of motivation, corporate culture, the ability to quickly gain access to necessary resources.

Developing Real Estate Automated Valuation Models by Learning from Heterogeneous Data Sources

In this paper we propose a data acquisition methodology, and a Machine Learning solution for the partially automated evaluation of real estate properties. The novelty and importance of the approach lies in two aspects: (1) when compared to Automated Valuation Models (AVMs) as available to real estate operators, it is highly adaptive and non-parametric, and integrates diverse data sources; (2) when compared to Machine Learning literature that has addressed real estate applications, it is more directly linked to the actual business processes of appraisal companies: in this context prices that are advertised online are normally not the most relevant source of information, while an appraisal document must be proposed by an expert and approved by a validator, possibly with the help of technological tools. We describe a case study using a set of 7988 appraisal documents for residential properties in Turin, Italy. Open data were also used, including location, nearby points of interest, comparable property prices, and the Italian revenue service area code. The observed mean error as measured on an independent test set was around 21 K€, for an average property value of about 190 K€. The AVM described here can help the stakeholders in this process (experts, appraisal company) to provide a reference price to be used by the expert, to allow the appraisal company to validate their evaluations in a faster and cheaper way, to help the expert in listing a set of comparable properties, that need to be included in the appraisal document.

Problems and Challenges: A Private Forest Purchase Method for National Forest Expansion in South Korea

This study analyzes the appraisal procedure for government purchasing of privately-owned forests in Korea, in terms of current status, existing procedures, and appraisal cases. The method is a widely conducted instrument of national forest expansion policy. For the purchase status, the purchase targets of private forests, unit price, and purchase records are analyzed. The purchase procedure is to analyze the process from the sale agreement submission of the owner to the transfer of ownership after completion of sales. The appraisal cases analyze the appraisal results according to the actual purchase of private forests. Three of the procedure’s most problematic aspects are identified: The selection of appraisal companies, the failure to include the value of standing trees, and ambiguities in appraisal criteria. The study suggests some ways of improving the continuing implementation of the national forest expansion program through ongoing purchases of privately-owned forests. Firstly, the selection process for appraisal companies needs to be improved by independent third-party institutions or a competitive bidding system. Secondly, since forests are classified into standing trees and forest land, these two categories need to be appraised separately rather than together, as is often currently the case. Thirdly, since appraisal factors are currently based primarily on appraisers’ subjective experience and knowledge, there is a need both for developing more objective appraisal criteria as well as for improving the training of appraisers themselves, to increase their level of expertise and ensure greater objectivity in forest appraisal.

Неопределенности в оценке пандемии. Хроники оценочного бизнеса

Methodology for studying the strategic potential of Russian appraisal companies is based on applying the “Strategic Matrix of the Company” software package, the algorithm of which involves analysis of qualitative and quantitative indicators that allow to create a complete company profile and to provide a scenario forecast for its development [1]. The main qualitative parameters accepted for analysis include such as the degree of innovativeness and differentiation of services, the level of competition and the company’s position in the market, priority of various strategic goals in the company’s activities, motivation effectiveness, corporate culture and the ability to quickly gain access to necessary resources. The present study resulted in the rating of 50 the most strategic appraisal companies in Russia according to results of the second half of 2019 — the first quarter of 2020.

The Features of Management Accounting in Appraisal Companies

The aim of the study is to determine the specificity of management accounting in appraisal companies. Appraisal activity is one of the aspects of the multi-faceted concept of «appraisal», which also means the process of professional appraisal implemented by the appraiser, and applied economics with its own methodology, terminology, research principles, and professional opinion of the appraiser regarding the value of a particular object of appraisal. Methodology. This study uses a historical, systematic and integrated approach to the transfer of material. Transmission logic, which is the original definition of the basic concepts and further description of fundamentals of management accounting, allows understanding patterns and modern trends of appraisal activity.
 Certain provisions were used in the practice of a Limited Liability Partnership engaged in appraisal services. Research results obtained allow us to understand the nuances of management accounting to improve the performance of appraisal companies in the Republic of Kazakhstan.
 The scientific novelty of the research is that because of a theoretical study of management accounting, possible directions for increasing the wellness of appraisal companies are justified. Theoretical and practical significance of the study connect with the possibility of using the scientific results in the deals of the Ministry of Finance of the Republic of Kazakhstan and its structural subdivisions, the tax authorities at different levels, the Ministry of national economy of Kazakhstan. This fundamental research can be used as a basis for training specialists in the field of performance accounting.

PENERAPAN METODE GRAPHIC RATING SCALE (GRS) DALAM PENILAIAN KINERJA KARYAWAN

Competition increasingly competitive business trigger Muliadana company to be more innovative in improving the quality of the company. One technique used by management companies in improving the quality of human resources is to conduct employee performance appraisal. To the authors try to establish a scoring system using the Graphic Rating Scale (GRS), which is a methodology for assessing the scale of the graph by comparing the individual performance against an absolute standard. The purpose of this valuation method is to minimize the less objective assessment and can determine the development of the employee's performance over several periods. The results of the performance appraisal company can provide feedback to the employees so they can decide the steps taken in making decisions such as: promotion, promotion or class, mutation, degradation as well as training for employees in need.

Рэнкинг оценочных компаний России

Th e valuation market in Russia plunged into stagnation — such a conclusion can be drawn from the results of the tenth annual ranking of Russian appraisal companies, compiled by the RAEX rating agency (RAEX-Analytics) in 2017. At the same time, both demand and cost of work fall.

PEMBAKUAN AKTIVITAS PERGUDANGAN DENGAN STANDARD OPERATING PROCEDURE (SOP) DI PT. XYZ

In realizing professional, effective, and efficient work, as well as improvement of work system, the company requires Standard Operating Procedures (SOP). SOP is a guide or reference to perform job tasks in accordance with the function and also a tool of performance appraisal company based on technical, administrative, and procedural indicators in accordance with work procedures and work system in the work unit concerned. Problems that occurred at PT. XYZ is the absence of standardization and documentation of work standards for warehousing activities resulting in non-standard work quality. The purpose of this research is to arrange Standard Operating Procedure (SOP) based on work elements in each warehousing activities in warehouse of PT. XYZ. The result of the research is the preparation of SOP for the acceptance of coffee beans, the storage of coffee beans, the delivery of coffee beans to the production, and the delivery of coffee to the consumers.

THE INFLATED VALUATION PROBLEM IN VALENCIA, SPAIN, AND IMPLICATIONS FOR FIRM SIZE

Home purchase-sale prices have been widely modeled by several authors. Nonetheless, other values exist, such as home mortgage appraisal values, used by financial institutions, which have played a key role in the recent financial crisis. This article attempts to model the appraisal price of one m2 of residential properties obtained by 31 appraisal companies in Valencia (Spain). Mortgage appraisal values of 17 007 residential properties were used for this purpose. Spatial autocorrelation was detected in both the data and residuals of the ordinary regression model, which justified using spatial regression models. Of the four employed models, the error model offered the best results. Significant differences were found among appraisal companies, which varied as much as 83% for some. Generally speaking, small appraisal companies obtained higher over-valuation percentages, which confirms their situation of weakness. The fact that over-valuations exist in mortgage securities is a high risk for a stable financial system.

Constraints on LTV as a macroprudential tool: a precautionary tale

The introduction of limits or regulatory penalties on high LTV ratios for residential mortgages is one of the most frequently used tools of macroprudential policy. The available evidence seems to indicate that this instrument can reduce the feedback loop between credit and house prices. In this paper, we show that these constraints on LTV ratios, used by Spanish banking regulators before the onset of the housing crisis of 2008, did not prevent that feedback loop. In the Spanish case, the fact that appraisal companies were mostly owned by banks led to a situation in which the LTV limits were used to generate appraisal values adjusted to the needs of the clients, rather than trying to appropriately represent the value of the property. This tendency towards over-appraisals produced important externalities in terms of a higher than otherwise demand for housing, and intensification of the feedback loop between credit and house prices.

Cultural heritage as a resource for property development

Adaptive reuse of cultural heritage has for the last decades resulted in an interplay between heritage and real estate values. Transformation of former industrial sites has turned out as leading examples of this development. Commodification of heritage has come into being by property developers realising heritage resources as real estate value with the result that two different value systems appear to overlap. The creative reuse of brownfields has also challenged management strategies for preservation and reuse contributing to the interplay. This article examines and discusses this interplay based on interviews with four developers involved in transformation of former industrial sites in Norway. Additional information and market analysis from an appraisal company supplies the interviews concerning which qualities are demanded by customers in the commercial sector. The data are analysed as potential indicators of how developers work and thereby given conceptual labels identified as categories and decisive factors for the interplay between cultural and economic value to occur. Five categories involving both hard and soft aspects, have through this procedure been identified of significance for how heritage is realised as a development resource; locational, timing, dependence on urban plans, dependence on the current market, and the long-term perspective and the economic capacity of the developer.

Conocimientos, habilidades y ética profesional del valorador inmobiliario. Dimensiones básicas de un plan de formación

El presente trabajo expone los resultados de una investigación llevada a cabo para fundamentar una propuesta de formación habilitante para ejercer la profesión de tasador inmobiliario. Hasta este momento en España basta con ser arquitecto o ingeniero para ejercer la profesión, dejando la formación complementaria en manos de las sociedades de tasación. Mediante el análisis de los conocimientos necesarios para realizar valoraciones ajustadas, de los estándares internacionales y de apoyos empíricos, intentaremos construir un plan coherente de formación, mostrando cómo emerge la necesidad de formación en aspectos técnicos, especialmente financieros, en habilidades psicopedagógicas y la ética profesional. Con ello pretendemos reivindicar la capacidad normativa de la ciencia pedagógica como factor relevante para solucionar importantes problemas socioeconómicos, mediante el diagnóstico de necesidades formativas y el diseño de programas.

Автоматизированные системы оценки персонала

The paper presents an overview of requirements for process automation personnel assessment. Grading activities are determined. The method of assessment
 of staff using methodology SCRUM is considered. An example of evaluation using psychometric tests and software solutions is given. The article describes the
 principles of evaluation of the personal effectiveness of employees. The list of the main methods of personnel assessment is given. Advantages and disadvantages
 of using automated systems for staff appraisal companies and organizations are considered. For example the assessment module «1C. Enterprise 8: performance
 management» software tools is described. Software solution for the implementation of assessment for personnel is proposed. The scientific-methodical basis
 for staff evaluation is described. The position of HR ethics, that uses the results of automated evaluation of staff is determined. The main danger of using noncertified
 methods and unlicensed software are considered. It justifies expediency of use of the automated systems of personnel evaluation personnel evaluation.

PELAKSANAAN PENILAIAN PRESTASI KERJA DAN HUBUNGANNYA DENGAN MOTIVASI KERJA KARYAWAN

ABSTRACT Performance appraisal is one of the thing that human resource management department conducted in a company. In every year or on in every six months company conducted performance appraisal. Performance appraisal is the method that human resource use to see the employee performance in one period. The things that performance appraisal see like how work done, how the employee work with others, how the discipline of the employee, and others things. With the performance appraisal companies can know the level of accomplishment of employee works as a part of a team or as an individual. Employee achievements can be assessed and monitored from this process. With performance appraisal, achievement and shortcomings of a work from employee can be monitored clearly. From this method, human resource can track all aspect from employee like motivation, effectiveness, efficiency, the work load, job satisfaction from time to time. With this method also, company can make a plan for employee like career path, employee development, salary and other things.With this method also, company can see the progress that employee achieve from year to year. But sometimees the performance appraisal is done in a way that improperly or at least inadequate procedures. biases of standard and subjectivity are usually the things that become problems in performance appraisal. For example, Sometimes the standar value from performance appraisal is not match with the work or sometime standar operation and procedur that not clear. The cause or problems that sometime we see in company that use the wrong way to conduct performance appraisal can sometimes can be a fatal problem. Employee can be demotivation, un satisfied with the work or with the company, not effective and or not efficient with the work or maybe be a rebel to his team or his team work. Keyword: Employment, Human Resource, Performance appraisal, Motivation, Work

QMS: Its Application and Innovation at a Small Inspection and Appraisal Company

This paper analyzes the experience of a small inspection and appraisal company, discusses the establish- ment of the criteria and principles of a quality management system (QMS), explores how to appropriately use the articles of the relevant regulations and laws and how to foster innovation in quality management, and finally, makes an evaluation of QMS improvement and its contribution to the development of quality management companies.

Рейтинг оценочных компаний России

Рейтинг оценочных компаний России

Land Property Market Value Determination Database for Collateral Purpose (Case Study: PT. Bintang Dharma Hurip Pekanbaru)

PT. Bintang Dharma Hurip, as one of appraisal companies already has the land and residential data in Pekanbaru, many data were not stored in organized database, therefore made difficult and delayed tasks of valuer especially to determine the Reproduction Cost New (RCN). The problem would be resolved when researchers proposed a dynamic property database, calculated the market value of land and implementation fuzzy queries so the redundancy data and loss can be minimized. The purpose of the research was to obtain a reference database application of properties in Pekanbaru based on last two years survey by PT. Bintang Dharma Hurip. The development method of research used Rapid Application Development, which were consists of requirements, design, construct, and implementation phases. The application used Visual Basic 6.0 and Microsoft Access 2003 as database tools. The research result was a database application size 6 MB. The user’s application divided into three, which are inspector, valuer, and reviewer. In the implementation phase, the researcher asked three reviewers, two valuers and one inspector PT. Bintang Dharma Hurip to conduct tests on the application. Apparently, from the test results, researchers concluded that the application is running well and suitable with company’s needs. Keywords: database, fuzzy, property, market value, PT. Bintang Dharma Hurip. DOI: http://dx.doi.org/10.11591/ijece.v1i1.62

Mountain View Mobile Home Park

This reality case pertains to one of the largest mobile home parks in the Carolinas. In 2003, the owner of the Mountain View & Vista Mountain Mobile Home Park passed away. The estate executrix hired an appraisal company to value the property. The body of the case presents three standard methods for valuing the property based on the actual appraisal report: the Cost Approach, the Income Approach, and the Sales Comparison Approach. The case then introduces the Investment Analysis Approach, which models future after-tax cash flows, considers the method of financing, and allows for year to year changes in revenues and expenses. This fourth technique complements the valuation provided by the formal appraisal. One suggested teaching strategy is to split the class into sets of matched buyers and sellers to extract data from the case and perform their independent Investment Analysis. The groups can then take opposite sides as buyers and sellers and try to negotiate a mutually agreeable price for the property.

Valuation model uniformity and consistency in real estate indices

Purpose of the paperThis research paper has two objectives. The first is to shed light on the consistency in and quality of the applied valuation models. The second objective is to analyse uniformity on important valuation input variables throughout 1994‐2002.Design/methodology/approachMore than 150 original valuation reports are retrieved and qualitatively checked on model consistency, for example on discounting methods. The impact of the inconsistencies on the end value were calculated by using a dummy discounted cash flow model (DCF). The uniformity of the input variables net yield, discount rate and exit yield are quantitatively determined: is there a decreasing standard deviation through time?FindingsThere appears to be little consistency: the Dutch appraisers use a variety of methods within the DCF method. Cash flows are discounted quarterly in advance, yearly in arrear and averaged over the year, only three of the ten most frequent used appraisers use a flexible inflation scenario, etc. These different approaches can have a large impact on the appraisal value. As for the uniformity, the standard deviation for all three variables has not decreased through time.Practical implicationsThe conclusions and recommendations of this research have been used by the valuation committee of the ROZ/IPD Netherlands Property Index to improve and extend the valuation guidelines.Originality/valueValuation models, which are the foundation of benchmarks, have never been researched on a large scale due to confidential issues. This research appears to be the first to actually analyse valuation models of many different appraisal companies in one country, The Netherlands. The participants of the ROZ/IPD Netherlands Property Index own 85 per cent of the €38 billion institutionally invested value in real estate in The Netherlands. Their policy decisions are partially based on the comparison to the Dutch benchmark. Therefore consistency and uniformity of the valuation models is critical.

The valuation of real estate for taxation

National Municipal ReviewVolume 2, Issue 2 p. 230-238 Article The valuation of real estate for taxation Mr. W. A. Somers, Mr. W. A. Somers Mr. Somers has had long experience in the assessment of property for the purposes of taxation. In 1891 he was made deputy assessor of St. Paul and Ramsey County, Minnesota, a t which time he evolved his method of real estate valuation, which in 1896 was adopted for the assessment of the city of St. Paul. Afterwards Mr. Somers was engaged for some years in the cities of Cleveland, Minneapolis, Chicago and New York in examination and assessment revisions. Upon the completion of his service in Cleveland, Mr. Somers arranged with the Manufacturers' Appraisal Company of that city to operate his system.-EDITOR.Search for more papers by this author Mr. W. A. Somers, Mr. W. A. Somers Mr. Somers has had long experience in the assessment of property for the purposes of taxation. In 1891 he was made deputy assessor of St. Paul and Ramsey County, Minnesota, a t which time he evolved his method of real estate valuation, which in 1896 was adopted for the assessment of the city of St. Paul. Afterwards Mr. Somers was engaged for some years in the cities of Cleveland, Minneapolis, Chicago and New York in examination and assessment revisions. Upon the completion of his service in Cleveland, Mr. Somers arranged with the Manufacturers' Appraisal Company of that city to operate his system.-EDITOR.Search for more papers by this author First published: April 1913 https://doi.org/10.1002/ncr.4110020207Citations: 1 AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinkedInRedditWechat Citing Literature Volume2, Issue2April 1913Pages 230-238 RelatedInformation