Property Economics Profession

The American Society of Appraisers started using the term "property economics profession" to better describe the work of its diverse membership that includes real property appraisers, business property appraisers, personal property appraisers and management consultants who are involved in the property valuation and consulting business.

The Centre for Advanced Property Economics (CAPE) was formed in 1998 to recognize "a need for different, structured, and more advanced opportunities for professional development. The Centre was created to help appraisers manage change through education, research, and information exchange."

Professional appraisers have recognized that, although they are valuing different types of assets, they all use similar, economics-based analytic techniques, and thus they have a great deal in common.  Like real property valuation, business property valuation has started to move toward licensing that will require standards for education and experience.  The Uniform Standards of Professional Appraisal Practice (USPAP) has already incorporated requirement for business appraisals.

The future of the appraisal profession may well depend on the unification of all valuation areas.  

An article has been posted with AppraisalArticles.com that discusses the Property Economics Profession.

Contact us with your questions or concerns regarding the property economics profession or regarding your specific appraisal assignment in Nevada at 1-702-568-6699.  We can also be e-mailed at grigdon@cox.net. 

Commercial Real Estate Appraisals in the Las Vegas & Henderson, Nevada Area.