The Transaction Certification System is an original and trailblazing solution implemented by the Institute of the Real Estate Market Monitoring and Analytics Silesia aimed at promoting and maintaining the highest quality standards of transaction data from the real estate markets, which are necessary to estimate the market value of real estates as well as for market analysis.
The Certification System was created to support professional activities carried out by property appraisers who are members of the Institute. Electronic certificates are provided from data collected by appraisers in the Database.
The Data Base of the Silesian real estate markets is the collection of data derived from notarial deeds from 2005 and obtained only by property appraisers.
The Institute has implemented quality procedures for data collection in the Data Base in the following areas:
- the modern and scalable database management system PriceBook was implemented in 2014, and built from scratch by members of the Institute, it includes data hosting and legal protection
- organization, accounting, supervising of the quality of work done by appraisers to 6 Coordinators who look after a given area of the Silesian Voivodeship
- training and technical support for members is provided by Moderator
- the Institute provides obligatory training for all new members including features and functions of Pricebook system as well as harmonized data entry rules and final tests
- new members, after completing the training, undergo a trial period from 3 to 6 months with a detailed examination of the quality of transactions provided by them
- the Institute organizes regular trainings for all members, which take place every quarter during reporting meetings summarizing issues related to obtaining market data from notarial deeds in the previous quarter
- implemented and respected a detailed document called “Regulations of Silesia Data Base” describing the organization
- implemented an unified system of obtaining and providing data called “Guidelines for Entering Transactional Data” that all members of the Institute abide by
- implemented document describing the legal status of records in the Silesia Data Base called “Copyrights”
- quarterly survey of the quality of data input with reporting meetings provided by Coordinators
- cooperation with other organizations collecting real markets’ data allowing comparison along with internal audit of the quality of data
- automatic appraisal of quality classes module for provided records in the PriceBook system
- automatic filter module for transactions, which indicate the presumption of duplication of the records in the database
- communication, reporting and warning module for each record
- commentary module allowing members to exchange additional information about the given record
- program module collecting all changes that have been made since the introduction of the given transaction to the present
The certification system is the culmination of efforts of all members of the Institute to maintain the highest quality of data collected in the Silesian Data Base. This quality is indispensable for professional implementation of the profession of real estate appraisers. A certificate issued electronically can perform the functions of a voluntary document attached to the drafts and studies executed upon client orders.
The clients of the members of the Institute can check the authenticity of issued electronic certificates via the website www.imars.pl.