The influence of clients on valuations: the clients' perspective

Purpose – This study aims to consider the theoretical potential for client influences to bias valuations, and assess the validity of the resulting framework by seeking input from practising valuers and commissioning clients.Design/methodology/approach – Reports upon a series of individual interviews with senior New Zealand property executives responsible for the management of large portfolios of institutional‐grade property assets.Findings – The results indicate that clients with expertise and a high level of knowledge of the property market are able to influence valuers by way of expert and information power. Opportunities to exert influence are afforded by the control the client has over the valuation process including the common practice in New Zealand of permitting clients to review draft valuations prior to their formalisation.Research limitations/implications – The general aim of this paper is to build on the theory as opposed to testing theory. In order to achieve this aim a qualitative approach wa...

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