Core Module Information
Module title: Real Estate Valuation

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

Module code: BSV11141
Module leader: Andrew Smith
School School of Computing, Engineering and the Built Environment
Subject area group: Built Environment


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

Full Details of Teaching and Assessment
2022/3, 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: Andrew Smith
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.

Formative Assessment:
The provision of formative feedback is a key component of the LTA approach underpinning this module. Formative feedback opportunities are built into each lecture and tutorial task, where you will be encouraged to engage with and reflect upon module themes via a series of different learning tasks. These provide opportunities for the module tutor to help with your understanding and interpretation of module topics. This formative feedback is delivered in class time in response to student contributions both individually and collectively. Formative feedback arises via the discussion and analysis of tutorial questions, practical examples/cases and associated reflection on a range of learning tasks. Some time in the lectures will also be used for advising on outline plans for the coursework (LO2-5)

Summative Assessment:
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.

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

Type of Assessment Weighting % LOs covered Week due Length in Hours/Words
Report 50 1,2 9 HOURS= 00.00, 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

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