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DOI: 10.14438/gn.2013.03
submitted: 2013-05-10, accepted: 2013-05-16, published: 2013-05-30

Real estate appraisal reports

Zagorka Gospavić1*, Dragana Milićević Sekulić1, Jelena Cvetinović1

1University of Belgrade, Faculty of Civil Engineering, Serbia

Abstract. Real estate appraisal in Republic of Serbia is an area where are many unknowns. Fortunately, nowadays in Serbia we have two professional associations of appraisers. As we know there are two types of appraisal – mass and individual appraisal and both requires standardized reports. This paper presents forms of valuation reports for individual real estate appraisal with its advantages and disadvantages. Process of real estate appraisal is complex and consists of several steps described in detail in paper with emphasis on selection of the method for valuation. Real estate report presents the final step in the process of valuation. In order to ensure usage of uniform real estate appraisal reports, national and international associations have adopted standards. All standards prescribe the minimum of required contents of report (professional standards), as well as ethical standards in order to ensure that all appraisers act highly professional, responsible and with integrity, and general conditions. Despite all measures in standardization there are still many problems in implementation, especially in countries where English is not a native language due to the fact that all standards are written in English.

Keywords. standards, professional standards, ethical standards

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