THE ESTATE SURVEYORS AND VALUERS AND THE MAGIC NUMBER: A POINT ESTIMATE OR A RANGE OF VALUE?-Reference-Cited by-同舟云学术

THE ESTATE SURVEYORS AND VALUERS AND THE MAGIC NUMBER: A POINT ESTIMATE OR A RANGE OF VALUE?

Published:2004-09-30 Issue:3 Volume:8 Page:149-162
ISSN:1648-715X
Container-title:International Journal of Strategic Property Management
language:
Short-container-title:

Author:

Aluko Bioye Tajudeen¹,Ajayl C. A.²,Amidu Abdul-Rasheed³

Affiliation:

1. Department of Estate Management , Obafemi Awolowo University , He - Ife, Nigeria

2. Faculty of Environmental Design and Management, Obafemi Awolowo University, Ile - Ife, Nigeria

3. Department of Estate Management, Obafemi Awolowo University, He - Ife, Nigeria

Abstract

Property value is imprecise because of the imperfection of the property market. But, estate surveyors and valuers in Nigeria traditionally have continued to express this value as a single amount. This paper, therefore, attempts to examine the rationale behind this approach and the attendant problems associated with it. Besides, the paper, amongst other things, recommended that estate surveyors and valuers should expand the scope of their services beyond the confines of point estimates so that clients be informed as to the amount of possible deviation and the magnitude of risk in the value estimate through the adoption of statistical techniques.

Publisher

Vilnius Gediminas Technical University

Subject

Strategy and Management

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