Consultation
Law
Transparency in Appraisals
Are you unsure whether a property appraisal is truly transparent? Auctoa revolutionises property valuation with a unique combination of AI and human expertise. We offer you not only precise but also comprehensible valuations. Do you need a transparent and reliable property valuation? Contact us for a non-binding consultation.
Transparency in Appraisals is crucial for trust and informed decisions in property valuation. Compliance with legal obligations is essential in this regard.
The use of AI-supported technologies and the disclosure of conflicts of interest significantly contribute to the objectivity and traceability of assessments. This can improve the accuracy of appraisals by up to 10%.
Clear guidelines for donations, sponsorship, and qualifying work promote transparency and avoid conflicts of interest, which sustainably strengthens trust in the reviews.
In the complex world of property valuation, transparency in appraisals is essential for building trust and enabling informed decisions. Property appraisals form the basis for investments, financing, and sales. Therefore, it is crucial that these appraisals are understandable, fair, and free from conflicts of interest. Auctoa employs cutting-edge technology and human expertise to bring maximum transparency to the valuation process, providing you with a reliable basis for your real estate decisions.
Transparency means that all relevant information is disclosed and accessible to those involved. This includes the valuation methodology, the data used, the assumptions made, and the qualifications of the appraisers. Through clear and comprehensible appraisals, you, as an investor, bank, or owner, can understand and verify the assessment. This strengthens the confidence in your property's value and minimises the risk of wrong decisions. The legal foundations for publishing appraisals emphasise the growing importance of this topic.
Auctoa goes beyond mere compliance with legal requirements and pursues a proactive transparency strategy. We use AI-powered technologies to automate the valuation process while increasing traceability. Our hybrid AI-human appraisals combine the precision of algorithms with the experience and judgement of our experts. This ensures you receive an appraisal that not only reflects the current market value of your property but also clearly explains the underlying factors. Learn more about our methods for trustworthy appraisals.
Since 1 January 2023, Austrian federal, state, and municipal authorities are legally required to proactively publish commissioned studies, expert reports, and surveys. This publication requirement in accordance with Art. 20 para. 5 B-VG aims to increase the transparency of government actions and strengthen citizens' trust in the administration. The obligation extends to all paid services from third parties involving intellectual work, and includes not only traditional studies and expert reports but potentially also guidelines, concepts, publications, and promotional brochures. The details of the publication requirement are complex, but the goal is clear: more transparency.
However, it is important to note that the publication requirement applies exclusively to studies, expert reports, and surveys commissioned after 1 January 2023. Documents created before this date are exempt from the obligation. There is also an important exception: the official secrecy. The obligation to publish does not apply if it conflicts with official secrecy. This requires careful consideration between transparency and legitimate confidentiality interests, for example in the area of data protection or intellectual property. Partial publication (redaction) is permissible to account for these interests. The consultation regulation illustrates how transparency is implemented in approval procedures.
The justification for invoking official secrecy must be continuously reassessed, as the necessity for confidentiality may change over time. Publication can be carried out via the respective organisation's website. These legal regulations contribute to increasing transparency in expert reports and strengthening trust in the work of authorities and institutions. Auctoa supports you in meeting these requirements while ensuring the quality and significance of your property valuations. Our principles of openness help you stay on top of things.
In public procurement law, expert opinions play a crucial role in evaluating bids and selecting the most economically advantageous bidder. To ensure fair competition and prevent corruption, transparency in expert opinions is also of great importance here. This particularly applies to legal, technical, or commercial studies conducted before or during the procurement process. The publication requirement generally also applies to these expert opinions, although there are important exceptions.
An important reason for not publishing expert opinions in public procurement law is the protection of the client's economic interests. For example, the publication of an expert opinion that reveals weaknesses in one's own position can lead to disadvantageous prices in negotiations. The protection of bidders' interests may also oppose publication. This particularly concerns copyrights and trade secrets. The legal framework is complex, but the goal is clear: fair competition through transparency.
If an expert opinion in public procurement law is not published, despite a publication obligation, affected companies have the option to apply for publication. If this application is denied, a complaint can be lodged with the administrative court. The court then examines whether the non-publication was lawful. These legal remedies help to enforce transparency in expert opinions in public procurement law and ensure that all bidders have the same information. Auctoa supports clients and bidders in understanding and enforcing their rights and obligations related to transparency of expert opinions in public procurement law. Our expertise in real estate evaluation and our knowledge of relevant laws and regulations make us a reliable partner.
A key aspect of transparency in assessments is avoiding conflicts of interest. If an assessor has financial or personal ties to one of the parties, this can compromise the objectivity of the assessment. To avoid accusations of bias, it is therefore important that assessors disclose their financial connections. This aligns with international best practices, particularly in the Anglo-American sphere, where the disclosure of conflicts of interest is a given. The recommendations of the Stifterverband emphasise the importance of disclosing financial connections.
In addition to disclosing financial connections, it is also important to disclose whether a company has reviewed or edited the assessment prior to publication. If a company has had the opportunity to influence the assessment, this can call into question the independence of the assessment. To ensure the independence of the assessment, it should therefore be disclosed whether a company has reviewed or edited the assessment prior to publication. This creates transparency and allows the parties involved to better assess the credibility of the assessment. The importance of independent assessments cannot be overstated.
Auctoa places great emphasis on the independence and objectivity of our assessments. We ensure that our assessors have no conflicts of interest and that our assessments are not influenced by third parties. Our hybrid AI-human assessments combine the precision of algorithms with the experience and judgement of our experts. This way, you receive an assessment that not only reflects the current market value of your property but also clearly explains the underlying factors. We recognise that transparency is the foundation of trust, and we are committed to justifying this trust.
Even for qualification work (Bachelor, Master, PhD) that arises from research collaborations between companies and universities, transparency is important. To protect the legitimate interests of both parties, clear rules should be established for publishing the results before starting the collaboration. This particularly concerns the protection of the company's intellectual property. The recommendations of the Stifterverband offer important guidance here.
To ensure that the results of qualification work can be published promptly, a speedy approval process should be established. Generally, approval should occur within eight weeks. Rejection of publication should only occur for valid reasons, for example, if the publication would endanger the company's trade secrets. Even in such cases, transparency is crucial: the reasons for rejection should be transparently explained to the student and the supervising professor/examiner.
To ensure that the supervising professors/examiners can thoroughly evaluate the qualification work, they should have full access to the work after signing a confidentiality agreement. This allows them to assess the quality of the work and ensure that the results are scientifically sound. Auctoa supports companies and universities in developing and implementing clear rules for transparency in qualification work. Our expertise in real estate appraisal and our knowledge of relevant laws and regulations make us a reliable partner. Our quality features of expert reports help you keep track.
An often overlooked aspect of transparency concerns the tax treatment of donations to universities and other non-profit organisations. In current tax practice, the mere naming of donors (without a logo) is often mistakenly classified as sponsorship, which leads to VAT liability. This is problematic as it can affect the willingness of companies and individuals to donate. The Stifterverband's recommendations call for an adjustment to the tax practice.
To ensure the willingness to donate is not compromised, the tax practice should be adjusted so that mere naming is not automatically considered sponsorship. Sponsorship only occurs when the donor receives a specific benefit in return for their donation, such as advertising space or active participation in the event. The mere mention of the donor's name, on the other hand, should be seen as an expression of appreciation and not as a taxable service. The documentation of the legislative process shows how complex the matter is.
Auctoa advocates for fair and transparent tax practices that promote donations and support non-profit organisations. We believe that transparency is crucial not only in property valuation but also in the funding of research and education. Our expertise in property valuation and knowledge of the relevant laws and regulations make us a reliable partner for companies and organisations committed to transparency.
To ensure transparency in donations and sponsorships to universities, universities should establish clear guidelines on handling these funds. These guidelines should include conditions of acceptance, involved parties, as well as internal and external transparency measures. It should be clearly stipulated under which conditions donations and sponsorships can be accepted, which entities are involved in the decision-making process, and how the use of the funds is made transparent both internally and externally. The recommendations of the Stifterverband provide important guidance here.
An important aspect of transparency is the systematic and complete collection of donor information and funding volumes. Universities should gather all relevant information about donors and sponsors, including name, address, donation amount, and purpose of the donation. This information should be made transparent internally, for example, by publishing it in a donation register. Funding volumes should also be transparently indicated to inform the public about the financial resources of the universities. The legal foundations are complex, but the objective is clear: more transparency.
Donation and sponsorship lists should be based on the principle of voluntariness, especially for donations from individuals and smaller amounts. Donors should have the choice of whether they want to be mentioned on a donation list or not. However, in the case of corporate donations and larger contributions, disclosure should be expected. Auctoa supports universities in developing and implementing guidelines for transparency in donations and sponsorships. Our expertise in real estate valuation and our knowledge of relevant laws and regulations make us a reliable partner.
Before companies enter into donation or sponsorship agreements with universities, they should check whether the universities have appropriate codes of conduct and transparency rules. If these are absent, companies should refrain from donating. This is an important aspect of due diligence to ensure that the donation is not used for purposes that contradict the company's values. The recommendations of the Stifterverband emphasise the importance of corporate scrutiny.
The examination of the universities' transparency rules should cover various aspects. Companies should check whether the universities have clear guidelines for handling donations and sponsorships, whether donor information is collected and published transparently, and whether the universities have taken measures to avoid conflicts of interest. If universities do not meet these requirements, companies should refrain from donating or ask universities to improve their transparency rules. The legal framework is complex, but the goal is clear: more transparency.
Auctoa supports companies in conducting due diligence examinations in connection with donations and sponsorships to universities. Our expertise in property valuation and our knowledge of relevant laws and regulations make us a reliable partner. We help companies ensure that their donations and sponsorship activities are in line with their values and make a positive contribution to society. Our expertise in the property sector helps you keep track.
Transparency in Appraisals is crucial to ensure trust and traceability. By adhering to legal obligations, disclosing conflicts of interest, and establishing clear guidelines for donations and sponsorships, we can collectively enhance transparency in property valuation. Future developments are expected to further strengthen transparency through laws and guidelines to further increase confidence in appraisals.
Auctoa actively promotes transparency in appraisals and offers you innovative solutions to make your property valuations traceable and reliable. Our hybrid AI-human appraisals combine the precision of algorithms with the experience and judgment of our experts. This way, you receive an appraisal that not only reflects the current market value of your property but also clearly explains the underlying factors. We recognize that transparency is the foundation of trust, and we dedicate ourselves to justifying that trust.
Key Benefits of Transparent Appraisals
Here are some of the key benefits you'll gain:
Increased Trust: Transparent appraisals build trust with stakeholders, including investors, lenders, and property owners.
Better Decision-Making: Clear and understandable appraisals enable informed decision-making, reducing the risk of errors.
Compliance: Transparent practices ensure compliance with legal and ethical standards, avoiding potential penalties.
Are you ready to elevate your property appraisals to a new level of transparency? Contact us today to learn more about our innovative solutions and how we can help you strengthen the trust in your property valuations. Contact us here!
The Anhörungsverordnung demonstrates how transparency is implemented in approval procedures.
The Stifterverband provides recommendations on transparency in various areas, including research collaborations and donations.
The Parliament documents the legislative process, offering insights into the complexity of tax aspects.
The Jusline explains the legal foundations for transparency.
Why is transparency in real estate appraisals important?
Transparency creates trust among all parties involved (investors, banks, property owners) and enables informed decisions based on comprehensible evaluations.
Which legal regulations promote transparency in appraisals in Austria?
As of 1 January 2023, Austrian authorities must publish appraisals (Art. 20 para. 5 B-VG). The Hearing Regulation governs transparency in approval procedures.
How does Auctoa contribute to transparency in real estate appraisals?
Auctoa employs AI-driven technologies and hybrid AI-human appraisals to automate the evaluation process and enhance traceability.
What role does the disclosure of conflicts of interest play in transparency?
Disclosing conflicts of interest is crucial to ensuring the objectivity and independence of appraisals and avoiding allegations of bias.
What are the benefits of transparent qualification works (Bachelor, Master, PhD) in research collaborations?
Clear guidelines for the publication of qualification works protect the interests of companies and universities and encourage the timely publication of research results.
How can companies ensure that universities have transparent donation and sponsorship guidelines?
Companies should review the universities' transparency rules before entering into donation or sponsorship agreements and refrain from donating if necessary, to avoid conflicts of interest.
What are the exceptions to the requirement to publish appraisals?
The publication requirement does not apply if it conflicts with official secrecy or endangers the economic interests of the client.
How can affected companies enforce the publication of appraisals under procurement law?
Affected companies can submit a request for publication and, if rejected, lodge a complaint with the administrative court.
