Client Feedback Pressure and the Role of Estate Surveyors and Valuers

References

• Adair , A. , Downie , M. L. , McGreal , S. and Vos , G. 1996 . European Valuation Practice: Theory and Technique , London : E & FN Spon .
   Google Scholar
• Ajayi , C. A. 1990 . “ An analysis of default factors in residential mortgages of the Federal Mortgage Bank of Nigeria and Oyo State Property Development Corporation ” . unpublished PhD thesis, Obafemi Awolowo University, Ile‐Ife, Nigeria
   Google Scholar
• Ajayi , C. A. 1998 . An analysis of default factors in residential mortgages of the Federal Mortgage Bank of Nigeria, . African Review of Money Finance and Banking , 2 (92) : 203 – 216 .
   Google Scholar
• Aluko , B. T. 2000 . “ A study of the appropriateness of mortgage valuation for institutional lending in Nigeria ” . unpublished PhD thesis, Obafemi Awolowo University, Ile‐Ife, Nigeria
   Google Scholar
• Aluko , B. T. 2007 . Implications of the current trend in mortgage valuation practice in Nigeria, . International Journal of Strategic Property Management , 11 (1) : 17 – 31 .
   Google Scholar
• Aluko , B. T. , Ajayi , C. A. and Amidu , A. 2004 . The estate surveyors and valuers and the magic number: a point estimate or a range of value?, . International Journal of Strategic Property Management , 4 (3) : 149 – 162 .
   Google Scholar
• Amidu , A. 2006 . “ A study of client influence on residential property valuations in Lagos metropolis ” . MSc dissertation, Obafemi Awolowo University, Ile‐Ife, Nigeria
   Google Scholar
• Amidu , A. and Aluko , B. T. 2007a . Client influence in residential property valuations: an empirical study, . Property Management , 25 (5) : 447 – 461 .
   Google Scholar
• Amidu , A. and Aluko , B. T. 2007b . Client influence on valuation: perceptual analysis of the driving factors, . International Journal of Strategic Property Management , 11 (2) : 77 – 89 .
   Google Scholar
• Appraisal Foundation . 2007 . Uniform Standards of Professional Appraisal Practice , Washington, DC : The Appraisal Foundation .
   Google Scholar
• Appraisal Institute . 1997 . GAO report signals FHH fraud, mismanagement, and abuse: calls for stricter review, . Appraiser News in Brief , 4 (6) : 1
   Google Scholar
• Balzer , W. K. , Doherty , M. E. and O'Conner Jr , R. 1989 . Effects of cognitive feedback on performance, . Psychological Bulletin , 106 (3) : 410 – 433 .
   Google Scholar
• Baum , A. E. , Mackmin , D. and Nunnington , N. 1997 . The Income Approach to Property Valuation , London : International Thomson Business Press .
   Google Scholar
• Cleary , E. J. 1965 . The Building Society Movement , London : Elek .
   Google Scholar
• Cypher , M. and Hansz , J. A. 2003 . Does assessed value influence valuation judgment?, . Journal of Property Research , 20 (4) : 1 – 14 .
   Google Scholar
• Diaz , J. 1990a . How appraisers do their work: a test of the appraisal process and the development of a descriptive model, . Journal of Real Estate Research , 5 (1) : 1 – 15 .
   Google Scholar
• Diaz , J. 1990b . The process of selecting comparable sales, . The Appraisal Journal , 58 (4) : 533 – 540 .
   Google Scholar
• Diaz , J. 1997 . An investigation into the impact of previous expert estimates on appraisal judgement, . Journal of Real Estate Research , 13 (1) : 57 – 66 .
   Google Scholar
• Diaz , J. 1998 . “ The First Decade of Behavioural Research in the Discipline of Property, ” . In Cutting Edge Conference , London : RICS .
   Google Scholar
• Diaz , J. and Hansz , J. A. 1997 . How valuers use the value opinions of others, . Journal of Property Valuation and Investment , 15 (3) : 256 – 260 .
   Google Scholar
• Diaz , J. and Hansz , J. A. 2001 . The use of reference points in valuation judgment, . Journal of Property Research , 18 (2) : 141 – 148 .
   Google Scholar
• Diaz , J. , Gallimore , P. and Levy , D. 2002 . Residential valuation vehaviour in the United States, the United Kingdom and New Zealand, . Journal of Property Research , 19 (4) : 313 – 326 .
   Google Scholar
• Diaz , J. and Wolverton , M. L. 1998 . A longitudinal examination of the appraisal smoothing hypothesis, . Real Estate Economics , 26 (2) : 349 – 358 .
   Web of Science ®Google Scholar
• Doherty , M. E. and Balzer , W. K. 1988 . “ Cognitive feedback ” . In Human Judgement: The SJT Approach , Amsterdam : North Holland . (edited by B. Brehmer and C.R.B. Joyce)
   Google Scholar
• Falegan , S. B. 1980 . “ Housing finance and funding: the Nigerian experience, ” . In Proceedings of the Third International Conference on Housing 57 – 68 . Kaduna
   Google Scholar
• Fisher , J. , Miles , M. and Webb , B. 1999 . How reliable are commercial appraisals? Another look, . Real Estate Finance , 16 (3) : 16 – 26 .
   Google Scholar
• Gallimore , P. 1994 . Aspects of information processing in valuation judgment and choice, . Journal of Property Research , 11 (2) : 97 – 110 .
   Google Scholar
• Gallimore , P. 1996 . Confirmation bias in the valuation process: a test for corroborating evidence, . Journal of Property Research , 13 (4) : 261 – 273 .
   Google Scholar
• Gallimore , P. and Wolverton , M. L. 1997 . Price knowledge induced bias: a cross‐cultural comparison, . Journal of Property Valuation and Investment , 15 (3) : 261 – 273 .
   Google Scholar
• Gallimore , P. and Wolverton , M. L. 2000 . The objective in valuation: a study of the influence of client feedback, . Journal of Property Research , 17 (1) : 47 – 58 .
   Google Scholar
• Gronow , S. 1992 . Building society mortgage valuation fraud, . Journal of Property Valuation and Investment , 10 (4) : 101 – 105 .
   Google Scholar
• Hair , J. F. , Anderson , R. E. , Tatham , R. L. and Black , W. C. 1992 . Multivariate Data Analysis with Readings , New York : Macmillan .
   Google Scholar
• Hansz , J. A. 2000 . “ The influence of market feedback on the appraisal process ” . In Cutting Edge Conference , London : RICS .
   Google Scholar
• Hansz , J. A. 1999 . “ Influences of Market Feedback on the Appraisal Process, ” . Dissertation, Georgia State University, Atlanta
   Google Scholar
• Hansz , J. A. 2004a . The use of a pending mortgage reference point in valuation judgement, . Journal of Property Investment and Finance , 22 (3) : 259 – 268 .
   Google Scholar
• Hansz , J. A. 2004b . Prior transaction price induced smoothing: testing and calibrating the Quan–Quigley model at the disaggregate level, . Journal of Property Research , 21 (4) : 321 – 336 .
   Google Scholar
• Hansz , J. A. and Diaz , J. 2001 . Valuation bias in commercial appraisal: a transaction price feedback experiment, . Real Estate Economics , 29 (4) : 553 – 565 .
   Web of Science ®Google Scholar
• Havard , T. M. 2001 . An experimental evaluation of the effect of data presentation on heuristics bias in commercial valuation, . Journal of Property Research , 18 (1) : 51 – 68 .
   Google Scholar
• Kinnard, Jr , W. N. 1991 . Income Property Valuation , Lexington, MA : D.C. Health and Company .
   Google Scholar
• Levy , D. S. 1997 . “ The effect of previous valuations on valuation outcomes ” . In Cutting Edge Conference , London : RICS .
   Google Scholar
• Levy , D. and Schuck , E. 1999 . The influence of clients on valuations, . Journal of Property Investment and Finance , 17 (4) : 380 – 400 .
   Google Scholar
• Lovell , R. and French , N. 1995 . Estimated realization price: what do the banks want and what can realistically be provided?, . Journal of Property Valuation and Investment , 6 (4) : 7 – 16 .
   Google Scholar
• Marchitelli , R. 1992 . Rethinking the cost approach, . The Appraisal Journal , : 424 – 426 . July
   Google Scholar
• Mason , J. 1993 . Under the microscope: the cost approach, . The Appraisal Journal , : 485 – 492 . January
   Google Scholar
• Matysiak , G. and Wang , P. 1995 . Commercial property market prices and valuations: analysing the correspondence, . Journal of Property Research , 12 : 181 – 202 .
   Google Scholar
• Mokrane , M. Valuation – standards, accuracy and consistency, . IPD European Property Strategy Conference, . May
   Google Scholar
• Moser , C. A. and Kalton , G. 1971 . Survey Methods in Social Investigation 2nd Edition
   Google Scholar
• Newell , A. and Simon , H. 1972 . Human Problem Solving , NJ : Prentice Hall Englewood Cliffs .
   Google Scholar
• NIESV (Nigerian Institution of Estate Surveyors and Valuers) . 1985 . Property Valuation Standards , Lagos : NIESV .
   Google Scholar
• NIESV (Nigerian Institution of Estate Surveyors and Valuers) . 2003 . Directory of Estates Surveyors and Valuers , Lagos : NIESV .
   Google Scholar
• Northcraft , G. and Neale , M. 1987 . Experts, amateurs, and real estate: an anchoring‐and‐adjustment perspective on property pricing decisions, . Organisational Behaviour and Human Decision Processes , 39 (1) : 84 – 97 .
   Web of Science ®Google Scholar
• Oetzel , T. R. 1993 . Some thoughts on the cost approach, . The Appraisal Journal , : 132 – 135 . January
   Google Scholar
• Onibokun , A. 1985 . “ The operations and performance of the Federal Mortgage Bank of Nigeria ” . In Urban Housing in Nigeria, Nigerian Institute of Social and Economic Research , Ibadan, , Nigeria : NISER . (edited by A. Onibokun)
   Google Scholar
• Rodgers , T. 1994 . Property‐to‐property comparison, . The Appraisal Journal , : 64 – 67 . January
   Google Scholar
• Royal Institution of Chartered Surveyors . 1996 . RICS Appraisal and Valuation Manual , London : RICS .
   Google Scholar
• Seas , A. 1994 . Evolution of appraisal reform and regulation in the USA, . The Appraisal Journal , 62 : 26 – 46 .
   Google Scholar
• Simon , H. 1978 . “ Information‐processing theory of human problem solving, ” . In Handbook of Learning and Cognitive Processes , Hillsdale, NJ : Erlbaum . Vol. 5 (edited by W.K. Estes)
   Google Scholar
• Smolen , G. E. and Hambleton , D. C. 1997 . Is the real estate appraiser's role too much to expect?, . The Appraisal Journal , 65 (1) : 9 – 17 .
   Google Scholar
• USPAP . 2007 . Uniform Standards of Professional Appraisal Practice , Washington, DC : The Appraisal Foundation .
   Google Scholar
• Wolverton , M. L. 2000 . Self‐perception of the role of the appraiser: objective opinions or price validation, . The Appraisal Journal , 68 (3) : 272 – 282 .
   Google Scholar
• Wolverton , M. L. and Gallimore , P. 1999 . Client feedback and the role of the appraiser, . Journal of Real Estate Research , 18 (7) : 415 – 432 .
   Google Scholar
• Wonnaacott , J. H. and Wonnaacott , R. J. 1979 . Introductory Statistics for Business and Economics , New York : John Wiley and Sons .
   Google Scholar
• Worzala , E. M. , Lenk , M. M. and Kinnard , W. N. 1998 . How client pressure affects the appraisal of residential property, . The Appraisal Journal , 66 (4) : 416 – 427 .
   Google Scholar