As in other markets, accuracy in Tanzania refers to the precision of an appraisal in reflecting the true market value of a property. Appraisers in Tanzania follow similar methodologies, such as the sales comparison approach, income approach, and cost approach, to determine property values. Tanzania has a formal system for property valuation, regulated by professional bodies such as the Valuers Registration Board (VRB) and the Association for Real Estate Professional (AREPTA), ensuring standards for accuracy​.

. The Land Act CAP 113 in Tanzania and related regulationsof 2001 emphasize accuracy in land and property valuations, particularly in cases involving compulsory land acquisition, loans, and taxation.

Performance in the Tanzanian context includes delivering timely and reliable valuations, especially for financial purposes like securing loans or in the event of compulsory acquisition projects. The Land (Assessment of the Value of Land for Compensation) Regulations of 2001 sets specific guidelines to ensure that appraisals are both accurate and performed efficiently to meet legal and market needs​

. Performance here also encompasses the ability of appraisers to operate under local conditions, such as varying levels of data availability and market volatility.

Thank you for the valuable input, which includes hands-on experience from the field. We are once again considering additional terms such as precision, efficiency, and reliability, which were included in your response.

• In the literature related to real estate appraisal, I have the impression that performance is often equated with accuracy, as it is consistently measured by statistical metrics such as MSE, RMSE, MAE, MAPE, and R².
• How can we conclude that a particular real estate appraisal model is efficient or effective?
• How can we conclude that a particular real estate appraisal model is timely or reliable?
• How can we conclude that a particular real estate appraisal model is accurate or precise?