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Bellman, L. (2018). High-impact information types on market value: Property appraisers’ information sources and assessment confidence. Journal of Property Research, 35(2), 139-163
Open this publication in new window or tab >>High-impact information types on market value: Property appraisers’ information sources and assessment confidence
2018 (English)In: Journal of Property Research, ISSN 0959-9916, E-ISSN 1466-4453, Vol. 35, no 2, p. 139-163Article in journal (Refereed) Published
Abstract [en]

This explanatory paper describes and analyses which types of information professional property appraisers perceive to have the most impact on a commercial property’s estimated market value, which information sources they primarily use, and how reliable they perceive the information sources to be. The paper also investigates whether appraisers’ perceptions differ depending on the location of the business. A sample of 67 authorised property appraisers in Sweden was surveyed using the repertory grid technique as a questionnaire tool (to investigate unconscious behaviour), and non-parametric statistics. Analyses of the data show that four types of information have the greatest impact on estimated market value: the local environment and location are perceived as reliable, and property appraisers have confidence in those assessments; rental income seems problematic, because the property owner is the major source of information; and property appraisers are not confident in assessments based on discount rates. This pattern holds for various geographical locations.

High-impact information types on market value: Property appraisers’ information sources and assessment confidence

Keywords
assessment of information, behavioural research, commercial properties, information sources, property appraisers
National Category
Economics and Business
Identifiers
urn:nbn:se:miun:diva-33115 (URN)10.1080/09599916.2018.1443152 (DOI)000438450200003 ()
Available from: 2018-02-28 Created: 2018-02-28 Last updated: 2018-08-13Bibliographically approved
Bellman, L. & Öhman, P. (2017). Auktoriserade fastighetsvärderare: utbildning och praktik. Sundsvall
Open this publication in new window or tab >>Auktoriserade fastighetsvärderare: utbildning och praktik
2017 (Swedish)Report (Other academic)
Abstract [sv]

Fastighetsvärderingar av kommersiella fastigheter är av både teoretiskt och praktiskt intresse. Av intresse är också vilken påverkan lärosätet har på auktoriserade fastighetsvärderares fastighets-värderingar och vad deras värderingar grundar sig på. Lina Bellman och Peter Öhman vid CER har fördjupat sig i dessa frågor och presenterar i denna kortrapport analyser av data från nära hälften av alla auktoriserade fastighetsvärderare i Sverige. Resultaten visar att skillnader mellan olika lärosäten påverkar fastighetsvärderarnas tankemönster och att denna påverkan består även efter det att fastighetsvärderarna fått sina auktorisationer. Forskningsresultaten har tidigare publicerats i de internationella tidskriftsartiklarna "Authorised property appraisers’ perceptions of commercial property valuation" (Bellman och Öhman, 2016) och "How does education from a high-status university affect professional property appraisers' valuation judgments?" (Bellman, Lind och Öhman, 2016).

Place, publisher, year, edition, pages
Sundsvall: , 2017. p. 7
Series
Rapport / CER - Centrum för forskning om ekonomiska relationer ; 2017:3
National Category
Economics and Business
Identifiers
urn:nbn:se:miun:diva-32746 (URN)
Available from: 2018-01-26 Created: 2018-01-26 Last updated: 2018-01-26Bibliographically approved
Jarnkvist, K., Bellman, L. & Ekholm, S. (2017). Berättelser om klimatrisker och boende: Sociala strukturers betydelse för hur bostadsägare förhåller sig till klimatrisker i relation till sina bostäder. Mid Sweden University
Open this publication in new window or tab >>Berättelser om klimatrisker och boende: Sociala strukturers betydelse för hur bostadsägare förhåller sig till klimatrisker i relation till sina bostäder
2017 (Swedish)Report (Other academic)
Abstract [sv]

Rapporten redovisar resultat från en del av ett projekt om hur bostadsägare uppfattar och hanterar klimatrisker i relation till sina bostäder. Syftet med delprojektet är att få en fördjupad förståelse för bostadsägares riskuppfattningar och riskbeteenden samt hur dessa relaterar till olika sätt att resonera om försäkringsfrågor. Som ett led i detta undersöker vi hur olika berättelser om risk skapas i relation till sociala och rumsliga strukturer. Studien har genomförts på lokal nivå i områden som betraktas som utsatta för klimatrelaterade risker i större eller mindre omfattning, såväl i stad som glesbygd. En tredjedel av de 44 intervjuade personerna bor i nybyggda hus och resten bor i äldre hus. De flesta intervjuer har utförts som medföljande observationer, där vi besökt bostadsägarna i deras hem och låtit dem berätta om hur de uppfattar och hanterar klimatrelaterade risker i förhållande till bostadens utformning och lokalisering samt hur de resonerar om olika försäkringsfrågor. Vid analysen av materialet har intervjuerna kategoriserats i totalt sju så kallade riskberättelser, baserat på olika förhållningssätt till klimatrelaterade risker. För att förstå hur olika uppfattningar om risk skapas i relation till sociala och rumsliga strukturer har vi använt intersektionell riskteori vid analysen av de olika riskberättelserna. Resultaten indikerar att individens sociala och rumsliga kontext har betydelse för såväl riskuppfattning som riskbeteende och attityd till försäkringar vilket skapar olika förutsättningar för vilken beredskap försäkringstagare har i fråga om klimatrelaterade risker. Samhället lägger idag ett stort ansvar på hushållen att själva förebygga och hantera skador orsakade av väderrelaterade händelser. Våra resultat visar att människor med hög utbildning, goda ekonomiska möjligheter och/eller hantverksskicklighet troligen klarar sig bra i ett sådant system eftersom de har såväl kunskap som ekonomisk möjlighet att göra praktiska och ekonomiska åtgärder för att skydda sig mot olika former av risker. Även kön har betydelse för hur människor uppfattar och hanterar klimatrisker i relation till bostaden eftersom hus och försäkringsfrågor av många betraktas vara männens ansvarsområde. Lågavlönade, ensamstående kvinnor i riskutsatta områden och personer med dålig hälsa riskerar stå utan skydd i ett samhälle där bostadsägaren bär det främsta ansvaret för sin och husetssäkerhet.

Place, publisher, year, edition, pages
Mid Sweden University, 2017. p. 49
Series
RCR Working Paper Series ; 2017:1
National Category
Social Sciences
Identifiers
urn:nbn:se:miun:diva-30699 (URN)978-91-87557-28-6 (ISBN)
Projects
Försäkringsbranschen och klimatförändringarna
Note

Delrapport 2 i projektet Försäkringsbranschen och klimatförändringarna: Kort- och långsiktiga konsekvenser av bostadsägares riskuppfattningar, betalningsförmåga och riskbeteende för försäkringsbranschen

Available from: 2017-05-04 Created: 2017-05-04 Last updated: 2017-05-04Bibliographically approved
Bellman, L. (2017). Professional valuer perception of client pressure: a study of two North-European countries. In: Book of proceedings: 6th Malmö Real Estate Research Conference. Paper presented at 6th Malmö Real Estate Research Conference, May 18th-19th, 2017, Malmö. Malmö University
Open this publication in new window or tab >>Professional valuer perception of client pressure: a study of two North-European countries
2017 (English)In: Book of proceedings: 6th Malmö Real Estate Research Conference, Malmö University , 2017Conference paper, Published paper (Refereed)
Abstract [en]

Work in progress – an early draft

Purpose – Independence is essential when a clients need an objective valuation of a commercial property. This study describes and analyses client pressure on property valuers in the light of their memberships of professional bodies when valuing commercial properties. A point of departure is Levy and Schuck’s (1999; 2005) theoretical model of factors affecting professional valuers.

Design/methodology/approach – A questionnaire was finalised after completion of a pilot study, and was sent to all property valuers with general authorisation in Finland and Sweden in 2015/2016. A third of the AKAs in Finland (55 of 157) and more than half of the APAs in Sweden (73 of 145) participated in the study.

Findings – Analyses of preliminary results show that the property valuers in general do not perceive pressure from clients, even though they perceive that clients to some degree questioning their estimated market values. The valuers are also influenced by property information from clients.

Originality/value – This comparative Nordic study on client pressure is conducted in a highly transparent environment, and uses data from professional valuers.

Place, publisher, year, edition, pages
Malmö University, 2017
Keywords
Authorized valuers, Client pressure, Commercial properties, Uncertainty
National Category
Economics and Business
Identifiers
urn:nbn:se:miun:diva-32041 (URN)978-91-7104-782-3 (ISBN)
Conference
6th Malmö Real Estate Research Conference, May 18th-19th, 2017, Malmö
Available from: 2017-11-10 Created: 2017-11-10 Last updated: 2017-11-13Bibliographically approved
Bellman, L. & Öhman, P. (2016). Authorised property appraisers’ perceptions of commercial property valuation. Journal of Property Investment & Finance, 34(3), 225-248
Open this publication in new window or tab >>Authorised property appraisers’ perceptions of commercial property valuation
2016 (English)In: Journal of Property Investment & Finance, ISSN 1463-578X, E-ISSN 1470-2002, Vol. 34, no 3, p. 225-248Article in journal (Refereed) Published
Abstract [en]

Purpose – The purpose of this paper is to describe and analyze the thought patterns of authorized property appraisers (APAs) when valuing commercial properties, and draw conclusions about their collective thinking in terms of content, complexity, and homogeneity. Design/methodology/approach – A standard set of value-adding factors and bipolar constructs was included in a grid form used for data collection. The repertory grid technique and principal component analysis were used to map and analyze the thought patterns of nearly half of the APAs in Sweden. Findings – Analysis of the mean grid for all respondents revealed three dimensions in the aggregated APA thought pattern: property object – property market focus, abstract – specific information, and expert – superficial assessments. The aggregated thought pattern was found to be moderately complex, and the APAs demonstrated relatively strong homogeneity in their thought patterns. Practical implications – Based on the moderate complexity and relatively strong homogeneity in respondent thought patterns, this study discusses the upcoming establishment of a profession. Originality/value – To the authors’ best knowledge, this is the first study using the repertory grid technique to map and analyze APA thought patterns at an aggregated level.

Keywords
Authorized property appraisers, commercial properties, repertory grid technique, thought patterns, valuation judgments, value-adding factors
National Category
Business Administration
Identifiers
urn:nbn:se:miun:diva-27330 (URN)10.1108/JPIF-08-2015-0061 (DOI)000374164500003 ()2-s2.0-84961669821 (Scopus ID)
Available from: 2016-03-23 Created: 2016-03-23 Last updated: 2017-11-30Bibliographically approved
Bellman, L., Ekholm, S., Giritli Nygren, K., Hemmingsson, O., Jarnkvist, K., Kvarnlöf, L., . . . ֖hman, P. (2016). Climate Change, Insurance, and Households: A Literature Review. Sundsvall: Mid Sweden University
Open this publication in new window or tab >>Climate Change, Insurance, and Households: A Literature Review
Show others...
2016 (English)Report (Other academic)
Place, publisher, year, edition, pages
Sundsvall: Mid Sweden University, 2016. p. 44
Series
RCR Working Paper Series ; 2016:2
National Category
Sociology
Identifiers
urn:nbn:se:miun:diva-29773 (URN)978-91-87557-27-9 (ISBN)
Available from: 2016-12-22 Created: 2016-12-22 Last updated: 2017-11-29
Bellman, L. & Hemmingsson, O. (2016). Homeowners attitudes and behaviour related to climate change adaptation and insurance. In: : . Paper presented at Åre Risk Event, 14-16 June 2016, Åre, Sweden..
Open this publication in new window or tab >>Homeowners attitudes and behaviour related to climate change adaptation and insurance
2016 (English)Conference paper, Oral presentation with published abstract (Refereed)
Abstract [en]

This quantitative study is a part of the research project The insurance industry and climate change: Short- and long-term consequences of home owner's understandings of risk, ability to pay and risk behaviour. The purpose of this paper is to analyse home owners’ perceptions and behaviours related to climate risks. The research question that the study seeks to answer is ‘What impact does social and spatial structures as gender, class, family status and housing region have for home owners’ perceptions of climate risks and precautionary behaviour related to climate change adaptation?’. To investigate this, a national survey was sent out to 3000 people, which resulted in a response rate of 30 percent.54 percent of the respondents are residential homeowners, and compose the core respondents of this study. Some preliminary results show that the respondents perceive climate change as a relatively sever risk compared to other kinds of risks, but at the same time are not very active in taking responsibility or otherwise acting to adopt society or their own homes to climate change. These results are further analysed and discussed using social and spatial factors.

National Category
Social Sciences
Identifiers
urn:nbn:se:miun:diva-28056 (URN)
Conference
Åre Risk Event, 14-16 June 2016, Åre, Sweden.
Projects
The insurance industry and climate change: Short- and long-term consequences of home owner's understandings of risk, ability to pay and risk behaviour.
Note

Finansieras av Stiftelsen Länsförsäkringsbolagens Forskningsfond

Available from: 2016-06-22 Created: 2016-06-22 Last updated: 2016-09-27Bibliographically approved
Bellman, L., Lind, H. & Öhman, P. (2016). How Does Education from a High-Status University Affect Professional Property Appraisers' Valuation Judgments?. Journal of Real Estate Practice and Education, 19(2), 99-124
Open this publication in new window or tab >>How Does Education from a High-Status University Affect Professional Property Appraisers' Valuation Judgments?
2016 (English)In: Journal of Real Estate Practice and Education, ISSN 1521-4842, Vol. 19, no 2, p. 99-124Article in journal (Refereed) Published
Abstract [en]

The repertory grid technique is used to investigate professional property appraisers' thought patterns, and these patterns' complexity, with respect to the universities from which the appraisers graduated. Nearly half of Sweden's 138 authorized property appraisers participated in the study. The results indicate that the appraisers graduating from the university with the longest tradition of property education and ranked highest among the universities offering such education in Sweden have less complex thought patterns than do those graduating from other Swedish universities. This indicates that appraisers graduating from the highest ranked university simplify their valuation judgments more than do other appraisers.

Keywords
Commercial properties, Complexity theory, Education, Professional property appraisers, Repertory grid technique, Thought pattern, Valuation judgments, Kommersiella fastigheter, Komplexitetsteori, Utbildning, Fastighetsvärderare, Tankemönster, Värdering
National Category
Economics and Business
Identifiers
urn:nbn:se:miun:diva-30440 (URN)2-s2.0-85018212968 (Scopus ID)
Available from: 2017-03-08 Created: 2017-03-08 Last updated: 2017-11-29Bibliographically approved
Gebert-Persson, S., von Koskull, C. & Bellman, L. (2016). I don’t want to be a burden to my children: a study of older adults’ perceptions of senior housing in Sweden and Finland. In: : . Paper presented at The European Network for Housing Research Conference, June 28-July 1, Belfast, Northern Ireland.
Open this publication in new window or tab >>I don’t want to be a burden to my children: a study of older adults’ perceptions of senior housing in Sweden and Finland
2016 (English)Conference paper, Published paper (Refereed)
Abstract [en]

Purpose – Research focusing on wellbeing of individuals and communities, i.e. transformative service research (TSR), has become one of the top priorities in service research. TSR is still in its infancy and more research is needed in this area. This paper contributes to TSR by studying older adults’ perceptions of the transition from independent living at home to dependent living in senior housing with assisted care.

Methods – The paper draws on the findings of a large scale survey with older adults conducted in Sweden, and an eight months long ethnographic field study conducted at a senior housing site in Finland.

Findings– We identified a complex range of issues motivating older adults to move into senior housing with assisted care. Through the lens of selfdetermination theory we suggest that the more intrinsic the motives are to make such a transition, the greater the potential for experiencing eudaimonic wellbeing. While this insight is not groundbreaking, thus far transformative research has not investigated this topic.

Conclusions – As more individuals live longer and the older adults grow in size as a group, the demand on care service is increasing. Assistance will be needed for daily living and developing senior housing that support wellbeing is essential to meet these consumer needs.

National Category
Business Administration
Identifiers
urn:nbn:se:miun:diva-29704 (URN)
Conference
The European Network for Housing Research Conference, June 28-July 1, Belfast, Northern Ireland
Note

Finansierat av Stiftelsen Länsförsäkringsbolagens Forskningsfond

Available from: 2016-12-21 Created: 2016-12-21 Last updated: 2016-12-29Bibliographically approved
Bellman, L. (2016). Information sources for commercial property valuations and their quality.. In: : . Paper presented at The 5th annual real estate workshop, 9-10 May 2016, Malmö, Sweden.
Open this publication in new window or tab >>Information sources for commercial property valuations and their quality.
2016 (English)Conference paper, Published paper (Refereed)
Abstract [en]

Purpose –This study describes and analyses Swedish authorized property appraisers use of information sources and information when appraisal commercial properties in different on geographical location, i.e. place of business.

Design/methodology/approach –A survey was used for data collection. Half of the 138 authorized property appraisers in Sweden at the time ofthe study was participating. A questionnaire was finalised after completion of a pilot study and distributed in face-to-face interviews. The repertory grid technique was used as a questionnaire tool. Non-parametric statistical measures were used.

Findings – Analysis of the data indicate that information sources is not always used depending on the relevance and the reliability of the information.

Keywords
Authorized property appraisers, Commercial properties, Information sources, Relevance, Reliable, Uncertain
National Category
Business Administration
Identifiers
urn:nbn:se:miun:diva-28054 (URN)
Conference
The 5th annual real estate workshop, 9-10 May 2016, Malmö, Sweden
Available from: 2016-06-22 Created: 2017-11-10 Last updated: 2016-06-30Bibliographically approved
Organisations
Identifiers
ORCID iD: ORCID iD iconorcid.org/0000-0001-7763-0391

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