The students of the College of Business Administration (CBA) gathered together to participate in the Brown Bag Session 2019 with the theme “Invest Today, Earn Tomorrow”. The event was organized by the CBA officers last September 20, 2019, 9:30 a.m, at the Computer laboratory Sacred Heart College (SHC), Lucena City. Most of the participants were freshmen eager to learn about real estate. Mr. James Rono, a marketing student, hosted the program.
Mr. Arnel L. Cadeliña, dean of the College of Business Administration, Computer Science, Management Accounting and Accountancy, shared his knowledge about real estate appraisal. He discussed the difference between formal and informal appraisal, uses of appraisal, ethics and reasons for studying appraisal. Dean Cadeliña defined appraisal as the preparation of an estimate or opinion of some object and things. He gave insights on how an object is being appraised by focusing on its market value. Informal appraisal, according to him, is a routine made by almost everyone. It focuses on intuition that most people often do. The formal appraisal is a methodological collection and analysis of relevant market data while the appraisal report is an oral or written report that varies in length and it is focused on professional and legal standards. He also showed some examples of appraisal reports and how appraisal are used in market transaction, legal transaction and property taxation.
As to ethical considerations, he discussed about record keeping rule, competency rule, scope of work rule, jurisdictional exception rule. He also showed graphs on the percentage of people who have their own asset and those with liabilities when it comes to their land.
Before the program ended, Dean Cadeliña called someone to use an equipment for appraisal as well as described and discussed information pertinent to it. He motivated the group by reminding them that it is better to start an early investment for them to strive harder and better. He ended up his presentation by allowing the students to pose questions about his presentation. Dean Cadeliña was recognized with a Certificate of Appreciation for his expertise on real estate appraisal and his generosity in sharing such to the CBA students.