Very different.

land economist conduct both macro and micro analysis of proposed land use and appraise proposed investments in land and property. Real Estate agents or property managers are more focused on sales, managing the revenue and sustaining the property at individual level.

https://www.econstor.eu/bitstream/10419/121475/1/837694256.pdf

Abstract

Globally, real estate trade is highly regularized. Usually, the market value is not negotiated simply between the seller and potential buyer but based on an assessment performed by a professional valuer, known as a surveyor or appraiser. This paper inquires about the economic role of valuers in real estate markets. An institutionally embedded framework for valuation intermediation is developed that elucidates a multi-tiered imperfect information cascade. First, the valuer is understood as middleman counteracting information uncertainties on product quality of real estate. An additional constraint is constituted by information asymmetries between valuer and contractor. Drawing on New Institutional Economics, we discuss how the valuation professional with regularizations evolves globally as the superior institutional response to this cascade of information imperfections. A case of empirical evidence is provided for this concept of the regularized valuer.

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In the end, the orthodox economic approaches to reals estate valuation do not become obsolete but integrate into a socio-ecological framework of transaction economics. Here we find the emergence of regularizing organisations as a first order condition for an effective functioning of the valuation process in the absence of punishment or incentivizing means to guide the behaviour of the valuer.

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Am in agreement with the conclusion of the authors that both roles can be best understood with creating an analytical cascade of transaction economics.

This valuation and role cascade implies huge practical differences between locations and countries.

To my experience Terans Gunawardhana these practical differences can often count more than ‚objective criteria‘, due to human value preferences and traditions.

Not generally the same. A land economist analyzes the effects of taxation, externalities, zoning, property rights, etc. Whereas the appraiser generally is assigned to estimate the value of a particular property.

No. Valuer has a very limited role of valuing the property.

There is a difference between a person who looks at the theory and one who applies it. The theorist considers all the inputs and comes up with criteria that would be used in a ratio or percentage to asses properties in an area. He works from the inputs and produces outputs that the valuer uses as inputs.

Stephen I. Ternyik, I agree with you. Thank you for reaching out and providing me (us) with valuable views.

In this context, the Land Economist, deals with the economic and value aspects of the use, management and development of land.On the other hand, the Valuer is a professional who assesses, estimates or appraises the economic value of rights in landed property. Rights in landed property are part and parcel of the economic and value aspects of property which the Valuer undertakes to interpret by his function. In sum: (1)The Valuer has a background in, and participates in, land economics by giving advice on price and value issues in regard to landed property. Similarly, the Land Economist has a background in, and the capacity to practise, valuation because he deals with economic and value issues.(2)The difference is that the Valuer belongs to a profession whereas the Land Economist does not. Rather, he is a specialist who belongs to a specialisation with an academic inclination. Nevertheless, the Land Economist possesses the background to become a valuer by getting admitted to a professional institution of valuers.