Valuers’ Perceptions of Valuation Quality: A Qualitative Investigation

This paper provides insights into what valuation quality means for valuers in commercial property valuation practice. It explores the influence of tangible and intangible factors on the construction of meaning of valuation quality and how this is represented in practice. Although the valuation profession, like many professions, has developed standards and procedures that are used in practice to evaluate the work of members, little is known in valuation literature about what valuers perceive as constituting a quality valuation. Using an interpretive approach, employing semi-structured interviews, this study identifies the important constructs that shape the way valuers predominantly framed their conceptions of the meaning of valuation quality. The study also highlights possible conflicts between some of these constructs of valuation quality. The findings of this study are relevant for valuers, other stakeholders to valuation engagement and academic researchers seeking to develop a deeper understanding of how valuation quality in achieved in practice.