摘要：A real estate market is a group of companies or people that are in contact,aimed at conducting real estate transactions. The market participants may be represented by buyers,sellers,tenants,owners,debtors and creditors,entrepreneurs,managers,investors and intermediaries. The concepts of anticipation and change,with the principles of supply and demand,substitution,balance and external conditions are extremely important in the market approach. An appraiser takes into account all these principles and simulateneously tries to consider all relevant conditions for the problem appraisal,so that they could reflect reality and the local market conditions.
关键词：real estate market;appraiser;substitution;balance;supply and demand
