A. Waleed Al-Jasser: Taking into account economic and geographical variables is important in real estate valuation
M. Raed Al-Omaira: Real estate appraisal aims to achieve buyer and seller satisfaction
Jasser: Taking market indicators into account
Waleed Al-Jasser, a real estate marketer, agrees with all the words of Al-Bakr and Al-Namla, and emphasizes the necessity of practicing real estate work for the appraiser to obtain the necessary experience that qualifies him to evaluate, and to take into account the economic and geographical variables and the need and indicators of the market when evaluating.
Amira: Real estate know-how
Engineer Raed Al Omairah, real estate appraiser and head of department at Almarai Company, pointed out the importance of knowledge of real estate conditions for the real estate appraiser in addition to neutrality, transparency, clarity, objectivity and commitment to principles, and noted that the professional real estate appraiser is interested in providing sufficient correct information about the property, and applying international standards in the evaluation process such as the International Standards 2017 issued by the Saudi Commission for Certified Valuers.
He added: Academic qualification is important in raising the quality of real estate valuation, but there is currently no academic qualification in Saudi universities, but there are specialized courses in the field of real estate valuation provided by institutes and relevant authorities such as the Saudi Real Estate Institute and the Saudi Commission for Accredited Valuers, which are sufficient to qualify specialists and meet the needs of the real estate market.
He stressed that real estate valuation is based on certain criteria with the aim of achieving customer satisfaction, whether for the seller or the buyer, as the price is determined based on the quality of the building, the services provided in the real estate unit, the location and real estate market indicators.
Omaira stressed in his speech that real estate valuation is based on certain criteria with the aim of achieving customer satisfaction, whether for the seller or buyer. Al Omairah believes that the evaluation at cost according to the different services that have been added is the best in general, as for commercial real estate, its main criterion is the amount of income, otherwise, especially in buildings with similar services, then the evaluation is by comparison with buildings and real estate indicators in the surroundings.
Al-Omairah concluded his speech by stressing that economic, social and geographical variables all affect the real estate process, and gave an example of the state of the real estate market during and after the Corona crisis.
