Using multiple criteria decision analysis (MCDA) to assist in estimating residential housing values

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2016
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Abstract
Considerable literature exists regarding the complexity of the residential real estate appraisal process and the methods employed to determine initial listing prices as estimates of intrinsic market prices. Deviations in residential real estate intrinsic values occur due to a multiplicity of attributes and explanatory factors requiring consideration. We conduct a panel study using a Multiple Criteria Decision Analysis (MCDA) based framework that utilizes the skills and knowledge of a panel of residential real estate professionals (i.e. appraisers and realtors). We demonstrate how cognitive mapping and the Measuring Attractiveness by a Categorical Based Evaluation Technique (MACBETH) may assist in estimating appropriate offer/sale prices and strengthening current valuation approaches such as using comparables and/or hedonic modeling. The managerial implications of our MCDA-based framework and some avenues for future research are also presented.
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ferreira2016usinginternational Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Ferreira , Fernando A. F.;Spahr, Ronald W.;Sunderman, Mark A.;
Journal international journal of strategic property management
Year 2016
DOI
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URL
https://journals.vgtu.lt/index.php/IJSPM/article/view/2096
Keywords
nutrition. foods and food supply finance management. industrial management language and literature home economics demography. population. vital events

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