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Advanced Real Estate Valuation and Appraisal - Essay Example

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As the real estate industry adopts a global perspective for local market activity, real estate academics and practitioners across geography are making deliberate efforts to understand the views of their international colleagues on important real estate topics including basic…
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Advanced Real Estate Valuation and Appraisal

Then, in the second phase, the full list of potential solution, responses are collated from different perspectives and for the benefit of various stakeholders – clients, public and the real estate associate.
The primary focus here is to be reflective about values, ethics and professionalism in daily practice of real estate. This article not only considers the development of national and international standards for valuers, it also examines briefly the variations and differences in market practice arising from variations in law, culture and custom while acknowledging the general acceptance internationally of the prevalent meaning of market value and ethics by global standards.
While urban development is always political and about values, power is present in all decisions, which might be productive or otherwise and the general assumption in terms of democracy that a public good can be achieved.
There is a conscious effort to conceptualise the meaning of ethics and values in real estate, and debate what would constitute ethical practice in a variety of ethical dilemmas; appreciate the meaning of professionalism and ethics to deeply understand the implicit and explicit expectations and responsibilities placed upon professionals in real estate and finally to acknowledge the specific duties owed by professionals to clients, customers and the wider community and understand the concept of professional liability in the context of all the related and relevant laws. The attempt ideally should be to acknowledge and respect social diversity, and critically understand how planning and real estate practice impacts upon different groups in society.
Primarily, seeking other counsel; working through informal networks; exposing assumptions; bargain for information; being doubly sure, and negotiate for more clarity should be defined purpose of every ethical attempt in a profession.
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