The influence of valuers and valuations on the workings of the commercial property investment market

Type	Report
Author(s)	Baum,A. , Crosby,N. , Gallimore,P. , McAllister,P.
Publication year	2000
URL (web address)	http://construction.ntu.ac.uk/staffwebs/gallimore/valuers.pdf
Notes	ID: BAUM2000; Recently published, this reports on the results of a study carried out by the University of Reading and Nottingham Trent University into the influence that the valuation process has on the operation of the commercial property investment market. This research was funded by the Education Trusts of the RICS, Investment Property Forum and Jones Lang Lasalle. It concludes that the view that has existed that valuations may be distorted by the influence of clients is justified and that this does to some extent happen. While the authors are careful not to overemphasise the evidence, or the strength of the influence, there is clear support for the emerging behaviouralist stance on valuation (c.f. Diaz 1999); one which for this reviewer at least has strong parallels with the equivalent view of corporate decision making (references in Price and Shaw, 1998). The impact, if any, on behaviouralist influence in valuation on occupiers remains unaddressed.
Start page	1
End page	51
Availability	online
Relevance to practice	not immediate
Ease of application	not immediate
Stage of application	valuation and rent review
Evidence base	qualitative but carefully justified and reasonably strong
Readability	high

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