Alternative dispute resolution – including negotiation, mediation and arbitration – is a growing area in need of skilled real estate valuation professionals, according to a study published in The Appraisal Journal.
“Appraisers in Arbitration: What Areas of Service Might Valuers Provide?” by Paula K. Konikoff outlines ways in which valuation professionals can apply their knowledge and experience as an expert valuation witness, arbitrator or consultant in arbitration. The article emphasizes the importance of clarifying the role of the valuer at the outset because each role connects to distinct functions, responsibilities and professional standards.
Other articles found in the publication include “Alternative Measures to Improve Demand Forecasts,” by Emil Malizia, Ph.D., and Andrew Malizia, presenting a dynamic method to adjust long-term economic forecasts for metro areas that are in flux.
The adjustments outlined by the co-authors provide a more accurate picture of local employment growth, which is tied to market demand.
“Using the Income Approach for Minority Interests,” by Dennis A. Webb is an article where Webb discusses methods of valuing undivided interests in real estate, specifically the discount for lack of control that applies for minority holdings in partnerships.
The model presented in the article enhances existing approaches and bolsters partnership interest appraisals.