Frequently Asked Questions

Value is essentially an estimate of the likely price to be paid for a good or service for the purpose of purchase over a specific period of time. Value represents a hypothetical or imaginary price that buyers or sellers would agree on for a good or service. Therefore, value is not a reality, but an appreciation of the likely price to be paid for a good or service offered for purchase over a specific period of time. Appraisal; defines the process of estimating value. Real estate; is defined as land, which is a physical asset, and structures built on this land by people. Real estate appraisal; is the impartial assessment of the value of a real estate by experts over a specific period of time.

Those who practice the profession of valuation are called Valuation Experts. Valuation Experts are defined as individuals who are employed full-time by real estate valuation companies that will evaluate a real estate, a real estate project or the rights and benefits attached to a real estate, or who provide valuation services by signing contracts with valuation companies without being employed full-time, who have graduated from 4-year departments of universities, who have at least 3 years of experience in the field of real estate valuation, and who have been granted a Real Estate Valuation License.