Specialist and Statutory Valuation

General Information

This subject will extend the knowledge acquired in previous valuation and investment subjects by examining the methodologies used for the valuation of complex and diverse property interests. Various applications and methods of valuation will be analysed. For statutory valuation purposes the mass appraisal method, GIS applications and the compulsory acquisition process will be evaluated. Examples of specialist valuation topics that may be covered include the valuation of management rights, hotels, marinas, businesses, retirement sector assets, plant and machinery and rural properties. Specialist valuation topics vary depending on access to guest speakers. The rules of conduct of the relevant professional bodies will also be analysed with particular emphasis on the role of a valuer as an expert witness and risk management.

  • Academic unit: Faculty of Society & Design
    Subject code: SSUD71-328
    Subject title: Specialist and Statutory Valuation
    Subject level: Postgraduate
    Semester/Year: September 2021
    Credit points: 10.000
  • Timetable: https://bond.edu.au/timetable
    Delivery mode: Standard
    Workload items:
    • Seminar: x12 (Total hours: 36) - Weekly seminar
    • Personal Study Hours: x12 (Total hours: 84) - Recommended study hours
    Attendance and learning activities: As successful completion of this subject is heavily dependent on participation during all scheduled sessions, attendance will be monitored. Most sessions build on the content of the previous one. It is difficult for a student to recover if a session is missed. It is the responsibility of the student to catch up on any content missed and to complete set work outside class. It is also necessary for students to engage proactively and contribute positively in discussions, analyses and case studies. The assessments are an important part of developing the knowledge and understanding required to fulfil the minimum requirements of this subject. In addition to “remote” face-to-face contact time, students should plan to spend a minimum of 84 hours undertaking preparation/out of class work/personal study for this subject. This is intended as a general guide only for workload planning. More time may be required depending on the student's comprehension of the content delivered in class and aptitude for the subject. Please note that subsequent subjects assume the student has a full understanding of this subject - this content will not be repeated.
  • Prescribed resources:

    Others

    • IBISWORLD REPORTS.
    • isurv Valuation and the red book online. RICS
    • Australian Property Institute (2007). Valuation Principles and Practice.
    • Australian Property Institute (1996). Specialist valuations in Australia and New Zealand : theory and practice. Deakin ACT The Institute
    After enrolment, students can check the Books and Tools area in iLearn for the full Resource List.
    iLearn@Bond & Email: iLearn@Bond is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.

    To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
Academic unit: Faculty of Society & Design
Subject code: SSUD71-328
Subject title: Specialist and Statutory Valuation
Subject level: Postgraduate
Semester/Year: September 2021
Credit points: 10.000

Enrolment requirements

Requisites:

Pre-requisites:

Co-requisites:

There are no co-requisites
Assumed knowledge:

Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge.

Restrictions:

Nil

Assurance of learning

Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.

At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.

Program Learning Outcomes (PLOs)

Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.

Find your program

Subject Learning Outcomes (SLOs)

On successful completion of this subject the learner will be able to:

  1. Differentiate the nature and role of the specialist and statutory property valuer.
  2. Distinguish and apply the various principles of property valuation, as practised by various professionals in the industry.
  3. Appreciate the challenges faced by individuals acting as professionals in a property valuation role, including in the role of an expert witness.
  4. Identify how various government statutes and policies impact on the value of various property interests.
  5. Examine various legal cases and their impact on property valuation principles.

Generative Artificial Intelligence in Assessment

The University acknowledges that Generative Artificial Intelligence (Gen-AI) tools are an important facet of contemporary life. Their use in assessment is considered in line with students’ development of the skills and knowledge which demonstrate learning outcomes and underpin study and career success. Instructions on the use of Gen-AI are given for each assessment task; it is your responsibility to adhere to these instructions.

  • Type Task % Timing* Outcomes assessed
    Take-home Examination Online exam 30.00% Final Examination Period 1,2,3,4,5
    Written Report Complete a written report on a relevant compulsory acquisition matter. 35.00% Week 6 2,3,4,5
    Written Report Complete a written report on a relevant specialist valuation 35.00% Week 11 1,2,3,4
    • * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
    • C = Students must reach a level of competency to successfully complete this assessment.

  • Assessment criteria

    High Distinction 85-100 Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking.
    Distinction 75-84 Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas.
    Credit 65-74 Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above.
    Pass 50-64 Usually awarded to students whose performance meets the requirements set for work provided for assessment.
    Fail 0-49 Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines.

    Quality assurance

    For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.

Type Task % Timing* Outcomes assessed
Take-home Examination Online exam 30.00% Final Examination Period 1,2,3,4,5
Written Report Complete a written report on a relevant compulsory acquisition matter. 35.00% Week 6 2,3,4,5
Written Report Complete a written report on a relevant specialist valuation 35.00% Week 11 1,2,3,4
  • * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
  • C = Students must reach a level of competency to successfully complete this assessment.

Study Information

Submission procedures

Students must check the iLearn@Bond subject site for detailed assessment information and submission procedures.

Policy on late submission and extensions

A student who has not established a basis for an extension in compliance with University and Faculty policy either by 1) not applying before the assessment due date or 2) by having an application rejected due to failure to show a justifiable cause for an extension, will receive a penalty on assessment submitted after its due date. The penalty will be 10% of marks awarded to that assessment for every day late, with the first day counted after the required submission time has passed. No assessment will be accepted for consideration seven calendar days after the due date. Where a student has been granted an extension, the late penalty starts from the new due date and time set out in the extension.

Academic Integrity

University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.

Bond University utilises Originality Reporting software to inform academic integrity.

Feedback on assessment

Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.

Accessibility and Inclusion Support

If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.

Additional subject information

Specialist topics outlined above may vary from semester to semester depending on access to guest speakers from the industry on relevant topics.

Subject curriculum

Approved on: Aug 16, 2021. Edition: 2.3
Last updated: Oct 10, 2022
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