Selected aspects of real estate appraisers’ professional training on the background of economic theory

Abstract

This study is aimed at presenting the role of economic principles in the real estate valuation process raised in appraisal theory. The formulated theses suggest that the reasons for not appreciating economic issues in the appraisal process should be sought in the education system of persons authorised to perform real estate appraisals. In order to research how economy theory was adapted by appraisal theory and practice, several commonly available information sources were reviewed. The table shows the kinds of principles, in the order mentioned by the authors of studies. Some information about education system of property valuers in Poland and Lithuania was discussed. In order to verify how the appraisal principles described herein are used in practice, a survey was conducted among Polish appraisers. The Polish respondents’ answers confirm the diagnosis of the article’s authors as to the necessity to devote more time to these issues when preparing candidates for the profession of property appraiser.