Modern Challenges Facing the Valuation Profession and Allied University Education in Poland

The paper indentifies and synthesizes the observed changes in the role of the property valuer on the property market. The authors of this paper provide a perspective on the changes in the educational programs for valuers. The main challenge for valuation professionals lies in developing a deeper understanding of market globalization and better analytical skills, with a view to assessing accurate values. The educational system at the university level should encompass programmes which will prepare valuers for providing proper advice affecting important investment decisions of real estate market participants. They stress the role of international and national organizations in re-shaping the profile of the valuer. The current critical attitude towards the valuation profession has forced the European body representing valuers, namely The European Group of Valuers’ Associations (TEGoVA) to speed up the harmonisation of the valuation practice in order to forestall more rigorous control by the EU. In response to this, all the major internationally recognised standard setting bodies, such as the above-mentioned TEGoVA and The Royal Institution of Chartered Surveyors (RICS), are considering the need to add “risk analysis” to valuation reports. Such development should significantly affect future valuation educational and training programmes which will need to present a more holistic approach to real estate as an asset class.