Study On The Application Of Fuzzy Mathematics In Market Comparison Approach

Cost Approach, Income Approach and Market Comparison Approach are widely used in the real estate estimation currently. Market Comparison Approach is the most prominent one. Consider about the booming local markets and gradually fair play, it is significant to study and improve the Market Comparison Approach.Based on the price and the basic principle of the real estate, this paper analyzed the application value and problems of the Market Comparison Approach in the real estate evaluation practices. The major problems include the random choice of comparative cases, the subjectivity and incompletion of factors-revising and the random choice of the real estate integrated price determination. Then we got that the most important problem in practice is to eliminate the errors caused by estimators' subjectivity. Aim at this problem; we introduced the fuzzy mathematics theories to the Market Comparison Approach in this paper. During this process, we firstly choose the comparative case by using the fuzzy pattern recognition's model, then determine the regional and local factors by using the fuzzy comprehensive assessment model, and finally calculate the comprehensive price by using the smooth index method.In order to eliminate the problem of low accuracy caused by the estimators' subjectivity, we introduced the fuzzy mathematics into the Market Comparison Approach, built up the scientific evaluation models, analyzed and summarized the subjective factors systematically and proposed quantized methods. The Market Comparison Approach was improved and it has significant research value and practical guidance for the real estate evaluation improvement.