Expert problem solving practice in commercial property valuation: and exploratory study

Amidu, Abdul-Rasheed and Boyd, David (2018) Expert problem solving practice in commercial property valuation: and exploratory study. Journal of Property Investment and Finance, 36 (4). pp. 366-382. ISSN 1463-578X

[img]
Preview
Text
Expert Problem Solving Practice in Commercial Property Valuation- An Exploratory Study - R2.pdf

Download (442kB)

Abstract

Purpose – The purpose of this paper is to identify the core dimensions of problem solving of experts
in commercial valuation in order to provide a rich stimulus for managing current practice and enabling
future development.
Design/methodology/approach – The study adopted a cognitive position but emphasised understanding
the everyday commercial property valuation practice in a naturalistic context and from the participants’
perspectives. Given this, a grounded theory approach was employed as a research strategy to guide the data
collection and surface theoretical interpretations. Data were obtained through in-depth interviews with
practicing valuers working in private real estate firms within metropolitan Birmingham, UK.
Findings – The interviews uncover four dimensions of experts’ problem-solving practice in commercial
valuation: multidimensional, domain-specific knowledge base; cognitive process that is centred on analysis
and reflection; collaborative problem-solving venture with colleagues; and professional practice issues
awareness. A conceptual model is proposed which integrates these dimensions enabling a clearer
understanding of the nature of valuation work.
Research limitations/implications – This study was designed to be descriptive and theory generating,
thus, the findings cannot be generalised as the sample was confined to one city and consists of a small number
of senior practicing valuers. Therefore, the findings may not be fully applicable to other practicing valuers,
other geographical locations or more widely to other types of property valuation. Nevertheless, the findings
provide an important cognitive framework which can be verified by other researchers seeking to examine the
practice of expert valuers.
Practical implications – The identification of the core dimensions of expert problem solving in commercial
property valuation is shown to have implications for valuation practice, education and continued research.
The valuation practice environments need to develop mechanisms to provide time that would enable these
multi-dimensions of professional competence to be developed. Further work is needed to expand and refine
the model across expert practice in other specialty areas of valuation practice.
Originality/value – This study expands the current understanding of valuation process to areas
of expertise that have received less coverage in behavioural valuation literature, that is, the central
role of knowledge and

Item Type: Article
Uncontrolled Keywords: Practice competence, Problem solving, Valuation profession, Professional development, Commercial property
Subjects: K200 Building
K900 Others in Architecture, Building and Planning
Divisions: Faculty of Computing, Engineering and the Built Environment
Faculty of Computing, Engineering and the Built Environment > School of Engineering and the Built Environment
Faculty of Computing, Engineering and the Built Environment > School of Engineering and the Built Environment > Resilient Environments
REF UoA Output Collections > REF2021 UoA13: Architecture, Built Environment and Planning
Depositing User: Euan Scott
Date Deposited: 04 Dec 2018 14:48
Last Modified: 05 Dec 2018 10:52
URI: http://www.open-access.bcu.ac.uk/id/eprint/6594

Actions (login required)

View Item View Item

Research

In this section...