Research On The Application Of Modified Market Comparison Method In Real Estate Appraisal

Market comparison approach as the main method of valuation of real estate,because of its easy to understand the principles of valuation results are close to the market, steps and simple, to become one of the most evaluators use valuation methods.Market comparison approach in order to replace the principle of utility theory and theoretical basis, based on the principle of selection according to certain instances comparable on the market, through the price of comparable examples of transactions,maturity, regional factors, individual factors correction, and ultimately determined to be integrated estimated real estate prices.Thesis in theoretical analysis of the basic principles of traditional market comparison method, the valuation formula, scope and valuation processes, etc. as well as the basis for its application in the real estate valuation, for a more in-depth study.Analyze the market comparison approach for multi-objective decision-making process,summed up at the presence of the traditional market comparison approach inadequate.First, select a comparable instance is the central part of the market comparison approach, is whether a reasonable valuation of the key steps in accurate decisions,while in the traditional market comparison method, select the instance of the lack of comparable objective basis or criteria, mainly by evaluators experience judgment; and second, the traditional market comparison method factor correction process, for each comparable factors impact on real estate prices are treated equally, did not join the weighting factor this element, resulting in the valuation process is simple and the valuation results are not accurate; third, Some were roughly comparable price arithmetic mean, or judgment based on experience valuers subjective weighted average gives the weights so that the results of the assessment to determine the traditional market comparison approach factors in the revision process, and the resulting lack of appropriate basis. On the basis of the lack of these traditional markets corresponding comparative law studies, conducted quantitative, model-based,objective study of the improvement and application examples.To solve the problem of subjectivity comparable instance selected, paper fuzzy mathematical model, by determining the membership function, membership function value is calculated to be selected to be estimated transaction between cases and real estate posted schedule, and by comparing the posted schedule size and objectivelydetermine a market comparison approach of comparable examples; to resolve factor correction process is too rough, simple questions, the paper will introduce market comparison approach entropy method valuation process, objectively determined by the degree of variation of the comparative factor of the heavy weight of each factor In factor correction factors considered during the comparative impact on real estate prices, so factor correction process more scientific and reasonable; and finally, the paper to be estimated on the basis of comparable examples and real estate posted comparable examples of progress to determine the weight to give a final assessment of the value of the weighted sum, thereby enhancing the market comparison approach of scientific objectivity, a better solution to the lack of results of the assessment to determine the basis of issues.Thesis based on the mathematical model created by these improvements Institute illustrative example, select Calendar East Area Used residential house market valuation and the corresponding verification, further demonstrated the feasibility and operability of the paper to establish an improved model. In terms of limitations, the paper for the real estate valuation factors of qualitative factors score processing,valuation is still mainly rely on experienced appraisers to quantify, although the program take on a number of multi-round scoring valuers, excluding abnormal data and other methods improved, but there is still some subjectivity; the assessment of the acquired data is limited, the paper only improved valuation model example of an application analysis, there is no data to verify a large sample, so that the improved model of the application subject to certain restrictions. In the above-mentioned issues to be further addressed in future research.