Real estate valuation and the determining the value of dwellings with ahp method

The sector of real estate valuation has considerably been developing in recent years and the need of qualified real estate appraisers has been increasing day by day. In addition, the consistency of the reports prepared by the appraisers is considered as an important necessity. In this study, a method has been developed in order to be used in appraisal reports for dwellings. This study contains six chapters. In the first chapter, the descriptions related to the real estate, which is the basic of the study and is valued with the concept of property, are made. Furthermore, the aim and the extent of the study are mentioned. Literature research related to the scientific studies carried on similar subjects is done. In the second chapter, the concepts related to real estate valuation which forms the basis of the study are explained, the differences between the concepts about value are mentioned. In addition, the descriptions about real estate appraiser and the rules that the appraisers have to obey are explained. The necessary rules for a fair value assumption are mentioned. In the third chapter, the steps and methods of real estate valuation are explained. The steps that are necessary to accomplish the valuation report truthfully are mentioned in details from the customer's credit application to preparation of the report. The methods of real estate valuation which are well accepted in many countries are explained, as well. In the fourth chapter, the stages of analytic hierarchy method and the formulas about necessary criteria and way of establishing the hierarchic structure are mentioned. In the fifth chapter, the determination of the factors effective on the value of a dwelling is done by conducting a questionnaire study with the real estate appraisers who are relevant experts in order to confirm the valuation way with the help of AHP method as an alternative to the other real estate valuation methods. The results are sent to the appraisers again to make the comparisons which are needed in AHP method. The results are evaluated with using expert choice programme and the precedent dwellings. With the help of this method, it is aimed to provide the true valuation in the areas in which precedent dwellings cannot be found. It is stated that the real estate appraiser have to be experienced and be proficient in the area. In conclusion chapter, the inconsistency of the new method is examined in order to determine whether it can be used as an alternative method. It is confirmed that this reformed method can be an alternative to the other real estate valuation methods in case the appraiser is proficient in the area. Finally, suggestions about which aspects of the proposed method can be developed are made.