Client influence on property valuation in Kenya. Does the valuation environment matter?

Abstract

PurposeThis paper examines the effects and root causes of client influence within the valuation profession in Kenya.Design/methodology/approachThis study adopted a mixed research design incorporating a survey and experiment of registered and practising valuers in Kenya and interviews of key informants from registered and practising valuers, valuers' clients (commercial banks) and professional bodies.FindingsThe study found that client influence negatively impacts the valuation profession, contributing to inaccurate valuation outcomes, and it exists because of the valuation environment, represented by limited and unreliable information in Kenya and many other developing countries.Originality/valueThis study makes a critical contribution to the empirical literature as it introduces new insights into the impacts and causes of client influence by demonstrating how the valuation environment, characterised by poor information, contributes to client influence in Kenya, which is typical of many other developing countries.