Skip to main navigation menu Skip to main content Skip to site footer

Entering the profession from the perspective of young property valuers

Cover of World of Real Estate Journal, issue 119.

Abstract

Objective: For several years there has been a decline in interest in the profession of property valuation. This is clearly seen in the declining number of professional licenses issued. So far, no studies have addressed this problem. The main objective of this research was to find out how the profession is perceived by young real estate appraisers who have recently entered the profession.

Material and methods: The purpose of the survey was to find out what challenges they face at the beginning of their career, what their strengths and weaknesses are, in order to identify the relative difficulties of young professionals and to assess what might discourage young people from choosing this profession.

Findings: The article presents the results of a survey conducted among property valuers who have recently entered the profession. This is a preliminary study to test the desirability of further in-depth research and to determine its scope and directions.Based on the research conducted with a limited sample, it is not possible to draw general conclusions on this issue. The results presented in the article are merely an attempt to outline the scope of the phenomenon being studied.

Research limitations: The importance of this issue confirms the need for further research in this area. To obtain reliable results and formulate general conclusions, follow-up studies should be conducted with a significantly larger sample size and supplemented with additional research methods, such as in-depth interviews, case studies.

Research implications: For almost ten years there has been a gradual decline in the number of new professional licenses issued, and consequently a decline in the number of new valuers entering the profession. At present, the reasons for this decline are not known, so it is worth examining the problem more closely in order to propose possible solutions.

Keywords

property valuer, entering the profession, property valuation profession, preparation for the profession, property valuation business

PDF

References

  1. Abidoye, R.B., Junge, M., Lam, T.Y.M., Oyedokun, T.B. and Tipping, M.L. (2019). Property valuation methods in practice: evidence from Australia. Property Management, 37(5), 701-718
  2. Adair A., Downie M.L., McGreal S. and Vos G. (2005). European Valuation Practice. Theory and Techniques, Taylor & Francis, London
  3. Baxter, J.S. (2007). Re‐engineering a valuation degree: how did we get here and where do we go? Journal of Property Investment & Finance, 25(5), 444-467
  4. Bieliński T. (2015). Narzędzia wykorzystywane przez rzeczoznawców majątkowych do budowy bazy danych o rynku nieruchomości. Biuletyn nieruchomości, 1/2015, 18-28
  5. Centralny Rejestr Rzeczoznawców Majątkowych. Online, Retrieved on 31/06/2024 https://rejestresrm.mrit.gov.pl.
  6. Cymerman R. and Cymerman J. (2021). Wycena nieruchomości. Wydawnictwo Uczelniane Politechniki Koszalińskiej, Koszalin.
  7. D'Arcy E. and Taltavull P. (2009). Real estate education in Europe: some perspectives on a decade of rapid change. Journal of European Real Estate Research, 2(1), 69-78
  8. Dydenko J. (red.) (2020). Szacowanie nieruchomości. Wolters Kluver, Warszawa
  9. Gabrielli, L. and French, N. (2021). Pricing to market: property valuation methods – a practical review. Journal of Property Investment & Finance, 39(5), 464-480
  10. Grande-Ortiz M.A., Ayuga-Téllez E., and Contato-Carol M.L. (2012). Methods of Tree Appraisal: A Review of Their Features and Application Possibilities. Arboriculture & Urban Forestry, 38(4), 130-140
  11. Kania K., Małkowska A. and Uhruska M. (2020). Profesjonalizacja obsługi obrotu nieruchomościami. Wyzwania dla pośredników i rzeczoznawców majątkowych. Wydawnictwo Uniwersytetu Ekonomicznego w Krakowie, Kraków
  12. Kłusek, P. (2015). Status prawny zawodu rzeczoznawcy majątkowego, Biuletyn Stowarzyszenia Rzeczoznawców Majątkowych Województwa Wielkopolskiego, 44(2), 54-59
  13. Konowalczuk J. (2014). Wycena nieruchomości do celów kredytowych. Poltext, Warszawa
  14. Lee C.L., Yam S., Susilawati C. and Blake A. (2024). The future property workforce: challenges and opportunities for property professionals in the changing landscape. Buildings, 14(1), 224
  15. Li J. and Yeo R. K. (2011). Quality of work life and career development: perceptions of part-time MBA students. Employee Relations, 33(3), 201-220
  16. Lisi, G. (2019). Property valuation: the hedonic pricing model – location and housing submarkets". Journal of Property Investment & Finance, 37(6), 589-596.
  17. Majumdar, R. (2019). Valuation of hotel property: issues and challenges. Worldwide Hospitality and Tourism Themes, 11(4), 418-428
  18. Małkowska, A., Tomal, M., Uhruska, M., Pawlak, J., Maier, G., and Nichiforeanu, A. (2021). The impact of job satisfaction on valuers’ attitudes towards professional ethics. International Journal of Strategic Property Management, 25(6), 497– 513
  19. Małkowska A. and Uhruska M. (2018a). Uwarunkowania instytucjonalne działalności zawodowej rzeczoznawcy majątkowego – stan obecny i pożądane kierunki zmian. Świat Nieruchomości, 3(105). 23-33
  20. Małkowska A. and Uhruska M. (2018b). Doing Business in Property Valuation - Survey Results. Świat Nieruchomości, 4(106). 27-36
  21. Małkowska A. and Uhruska M. (2019). Towards Specialization or Extension? Searching for Valuation Services Models Using Cluster Analysis. Real Estate Management and Valuation, 27(4), 27-38
  22. Małkowska A. and Uhruska M. (2022). Factors affecting SMEs growth: the case of the real estate valuation service industry. Oeconomia Copernicana, 13(1) 79-108
  23. Małkowska, A., Uhruska, M., and Tomal, M. (2019). Age and experience versus susceptibility to client pressure among property valuation professionals - implications for rethinking institutional framework. Sustainability, 11(23), 6759
  24. Mangioni, V. (2015). A review of the practices of valuers in the assessment of land value for taxation in Australia. Journal of Property Tax Assessment & Administration, 12(2), 5-15
  25. Mansfield, J.R. and Royston, P.J. (2007). Aspects of valuation practice in Central and Eastern European economies, Property Management, 25(2), 150-163
  26. Mooya, M.M. (2015). The education and professional practice of valuers in South Africa: a critical review. Property Management, 33(3), 245-274
  27. Mruk H. (2022). Kultura pracy a jakość życia. Ekonomia – Wroclaw Economic Review, 28/2022, 4, 97-109
  28. Nowak A. (red.) (2020). Zasady sporządzania operatów szacunkowych. Przykłady dla kandydatów na rzeczoznawców majątkowych. Educaterra, Olsztyn
  29. Oloyede S.A., Ayedun C.A. and Ajibola M.O (2011). Issues facing the Estate Surveying and Valuation Profession in Nigeria. Business Management Dynamics, 1(2), 54-60
  30. Pagourtzi, E., Assimakopoulos, V., Hatzichristos, T. and French, N. (2003). Real estate appraisal: a review of valuation methods. Journal of Property Investment & Finance, 21(4), 383-401
  31. PFSRM, Standardy Zawodowe. Online, Retrieved on 31/07/2024 https://pfsrm.pl/aktualnosci/item/14-standardy-do-pobrania.
  32. Poon, J. (2014). Do real estate courses sufficiently develop graduates’ employability skills? Perspectives from multiple stakeholders. Education + Training, 56(6), 562-581
  33. Rozporządzenie Ministra Infrastruktury i Rozwoju z dnia 11 marca 2014 r. w sprawie nadawania uprawnień zawodowych w zakresie szacowania nieruchomości. (Dz.U. 2014 poz. 328 z późn. zm.)
  34. Rozporządzenie Ministra Rozwoju i Technologii z dnia 5 września 2023 r. w sprawie wyceny nieruchomości. (Dz. U. 2023, poz. 1832)
  35. Schnaidt, T. and Sebastian, S. (2012). German valuation: review of methods and legal framework. Journal of Property Investment & Finance, 30(2), 145-158
  36. Seagar, C. (2003). Real estate professions, professionals and professionalism. Australian Property Journal, 37(5), 338–343
  37. Trojanowski D. (2019). Dylematy wyceny nieruchomości komercyjnych w Polsce. Wydawnictwo Uniwersytetu Gdańskiego, Gdańsk
  38. Ustawa z dnia 21 sierpnia 1997 r. o gospodarce nieruchomościami. (Dz. U. 1997, nr 115, poz. 741 z późn. zm.)
  39. Ustawa z dnia 13 czerwca 2013 r. o zmianie ustaw regulujących wykonywanie niektórych zawodów. (Dz. U. 2013, poz. 829.)
  40. Warren, C. and Elliott, P. (2005). The valuation profession in Australia: profile, analysis and future directions. Australian Property Journal, 38(5), 362–367
  41. Waworuntu, E. C., Mandagi, D. W., and Pangemanan, A. S. (2022). Work-Life Balance, Job Satisfaction and Performance Among Millennial and Gen Z Employees: A Systematic Review. Society, 10(2), 286-300
  42. Wilkinson S., Antoniades H. and Halvitigala D. (2018). The future of the Australian valuation profession: New knowledge, emerging trends and practices. Property Management, 36(3), 333-344
  43. Źróbek, S., and Grzesik, C. (2013). Modern Challenges Facing the Valuation Profession and Allied University Education in Poland. Real Estate Management and Valuation, 21(1), 14–18
  44. Źróbek S., Kucharska-Stasiak E. and Cellmer R. (2018). W poszukiwaniu przyczyn stronniczych wycen nieruchomości. Świat Nieruchomości, 3(105), 17-21
  45. Źróbek, S., Kucharska-Stasiak, E., Naimaviciene, J., and Tupenaite, L. (2016). Selected aspects of real estate appraisers’ professional training on the background of economic theory. Journal of International Students, 9(2), 150–157
  46. Źróbek S., Kucharska-Stasiak E. and Renigier-Biłozor M., (2020). Today's Market Needs Modernized Property Appraisers, Real Estate Management and Valuation, 28(4), 93 – 103

Downloads

Download data is not yet available.