ABSTRACT
This chapter investigates the use of knowledge from a number of experts in developing an expert system for rating valuation of commercial and industrial properties in Malaysia. It examines a review of the background to the research, the process of eliciting the knowledge, and the knowledge that has been elicited a description of the prototype and its evaluation. In Malaysia, computerization exercises in local authorities mainly concentrate on the storage and retrieval of property records and for billing purposes. Most systems on mass appraisal valuations have been associated with the traditional statistical approach of Multiple Regression Analysis. The scope of properties in the research includes purpose-built office complexes, shopping complexes, shop-house/office/flat and industrial properties that is factories. Valuers seemed to show a high level of confidence in making ‘reasoned adjustments’ for differences in factors using the comparison method in the case of shop-houses and industrial properties.
