Property valuer is the person who estimates the value of the property. Valuer is a qualified professional who possesses the market knowledge, analytical skills and refined judgement capability to estimate the right value of the property.
Why you need property valuation –
Property valuation can be done for various reasons like – a person wants to know about the value of the property, for paying taxes, finance, insurance, for selling or buying the property, for financial reporting, for investment purpose.
Task performed by the property valuer –
Examine the items or property, understand and consider supply and demand, market & future trends, study and collect data related to the property location, size, council zoning, facilities associated with the property. Prepare and submit the written valuation report to the client. Gives consultancy advice related to the property valuation matters.
How property valuer works –
To find the right market value of the property the valuer has to inspect the subject property first and gather the complete information related to the property. Then collect the recent sales comparison data and then after some calculations prepared a report. Which is widely known as property valuation report which contains – Name of the owner, property location and address, area of the property, type of property, reason of valuation, estimated value of the property, detailed information related to the subject property like – number of rooms, bathrooms, kitchen type, renovation status, any improvement needed or not.
And some more theoretical details related to the property. The valuation report that is provided by the property valuer is widely accepted to solve the legal issues by the government and courts.
What qualities should a property valuer possess –
- Valuer should possess good character, skills, and reputation.
- Good analytical and communication skills.
- Sound judgement ability.
- Keep results confidential.
- Offers pocket-friendly services.
- Gives an accurate evaluation of the properties.
- Gives complete all rounded summary report.
Real estate property valuer can find the value of the different types of the property like commercial buildings, residential buildings, industrial buildings and business properties.
How to become a property valuer –
First property valuer aspirants have to complete a VOC qualification in property valuation services. Different institutions have different subjects to offer in this course.
One can study property economics or property valuation too to become a valuer. There are various colleges and universities are offering the valuation course.
Valuation course offers specialization in various fields like machinery, art, collectibles, antiques. On the job training is very useful in this sector.
After completing the course a valuer can apply for membership of AVI i.e Australian valuer institute and after working in the field for few years one can get the CPV i.e certified practising valuer accreditation. Qualified valuers are employed by valuation firms and company, real estate agencies, auction houses, money lenders and financial institutions like banks, insurance companies, and building societies. Also, a valuer can have the opportunities for self-employment.
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