Module title: Real Estate Valuation

SCQF level: 11:
SCQF credit value: 20.00
ECTS credit value: 10

Module code: BSV11141
Module leader: Alison Andrews
School School of Engineering and the Built Environment
Subject area group: Building and Surveying
Prerequisites

There are no pre-requisites for this module to be added

2018/9, Trimester 1, Blended, Edinburgh Napier University
Occurrence: 001
Primary mode of delivery: Blended
Location of delivery: MERCHISTON
Partner: Edinburgh Napier University
Member of staff responsible for delivering module: Alison Andrews
Module Organiser:


Learning, Teaching and Assessment (LTA) Approach:
Learning & Teaching methods
The module will rely on blended learning using lectures and tutorials, which is then supplemented with Virtual Learning Environment materials to facilitate both directed and reflective study. LO1-6 Lectures, each of 2 hours, will cover both theory and how to apply it, and up-to-date practical examples. (LO1-6). The tutorial sessions will focus principally on the application of the theory (LO2-5). Some time in tutorials will also be used for advising on and monitoring progress on the coursework (LO2-5). Directed study focuses on development and reinforcement of the concepts covered in the module material in order to allow students to deepen their understanding of both theory and practice.

Embedding of employability/PDP/Scholarship Skills
LO1-4: Students take part in practical exercises to develop their skills for employability. Their PDP is considered an integral part of this development as they are encouraged to reflect on what they have learned in the module and apply it to their personal learning situation. The key skills are: a) Communication skills - oral and report-writing skills are developed through tutorial and the continuous assessment component. Teachings on professional standards and ethics support professional practice (LO 6)

Assessment (formative or summative)
A range of assessments will be used. Primarily the technical content will be assessed through a combination of coursework and formal examination. The formal examination [LOs 1-6] will be used to test the students overall knowledge and understanding of the subject material. Coursework exercises will be relevant to the surveying profession and will provide the student with the opportunity to describe and critically assess current issues and to apply what they have learned.

Research / teaching linkages
The core course content and examples used, demonstrate how theoretical knowledge can be
applied to real life situations.

Formative Assessment:
The University is currently undertaking work to improve the quality of information provided on methods of assessment and feedback. Please refer to the section on Learning and Teaching Approaches above for further information about this module’s learning, teaching and assessment practices, including formative and summative approaches.

Summative Assessment:
The University is currently undertaking work to improve the quality of information provided on methods of assessment and feedback. Please refer to the section on Learning and Teaching Approaches above for further information about this module’s learning, teaching and assessment practices, including formative and summative approaches.

Student Activity (Notional Equivalent Study Hours (NESH))
Mode of activityLearning & Teaching ActivityNESH (Study Hours)
Face To Face Lecture 36
Independent Learning Guided independent study 161
Face To Face Centrally Time Tabled Examination 3
Total Study Hours200
Expected Total Study Hours for Module200


Assessment
Type of Assessment Weighting % LOs covered Week due Length in Hours/Words
Report 50 1,4,5 & 6 8 HOURS= 0, WORDS= 3000
Centrally Time Tabled Examination 50 1-6 14/15 HOURS= 3, WORDS= 0
Component 1 subtotal: 50
Component 2 subtotal: 50
Module subtotal: 100

Description of module content:

The module aims to provide an introduction to real estate valuation and/or appraisal, the range of possible methodologies, their strengths and limitations and the appropriate contexts for their application. The module focuses on the definitions of value, an introduction to the financial mathematics used in investment appraisal and valuation methodologies, the five main methods of valuation, the purposes and bases of valuation and appraisals, analysis and reporting of risk in relation to the appraisals, the professional guidelines and mandatory requirements (The Red Book) of the main surveying body, the RICS, to be adhered to in property valuation practice and ethics, and current issues in valuation, including sustainability.

Learning Outcomes for module:

Upon completion of this module you will be able to
LO1: comprehend the property valuation process including instructions, bases, methods and reporting
LO2: evaluate and apply the valuation methodologies to undertake a variety of valuations for a range of purposes
LO3: critically appraise the strengths, weakness and limitations of these valuation methodologies
LO4: critically appreciate risk and uncertainty in the valuation process.
LO5: evaluate the possible impact of sustainability issues on valuation
LO6: critically engage in the ethical and professional regulatory issues in the property market

Indicative References and Reading List - URL:
BSV11141 - Real Estate Valuation