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Valuer

Also known as Property Valuer.

Valuers assess land, property and other items such as commercial equipment and objects of art, and provide advice about the administration and commercial use of land and property.

Valuations are made for many different purposes, such as rating and taxing, finance, financial reporting, investment, insurance, rental, sale and purchase.

A significant proportion of a valuer's time is also spent writing reports. A valuer's competence is largely judged on the quality and thoroughness of a report.

Valuers generally specialise in a particular type of valuation according to their knowledge and experience, such as real estate or art.

Valuers have a lot of contact with the public and may be required to spend a lot of time travelling.

TASKS

Valuers may perform the following tasks:

examine items and select appropriate methods of evaluation
calculate values by considering market supply and demand, condition of items, future trends and other factors (location, size, topography, zoning legislation, and the availability of services, such as transport, community facilities and parking, in the case of real estate, for example)
submit written assessments of value
provide consultancy advice about valuation matters
give evidence in legal proceedings and mediate valuation matters
provide rental valuations for arbitration purposes

PERSONAL REQUIREMENTS

good character and reputation
good communication skills
reasonable ability in mathematics
sound judgment and good analytical skills

Interest Area

SPECIALISATIONS

Real Estate Valuer - works in the valuation of city, suburban or country real estate and with different types of properties, such as commercial, industrial, residential or retail and other business properties. They may also analyse property investment returns, consult with other industry professionals, act as expert witnesses, work out appropriate rentals and provide market valuation reports.

EDUCATION & TRAINING

To become a valuer you usually have to complete a VOC qualification in property services, specialising in valuation. As subjects and prerequisites can vary between institutions, you should contact your chosen institution for further information.

You can also become a valuer by studying property, property economics or valuation at university. To get into these courses you usually need to gain your HSC/ACT Year 12. Prerequisite subjects, or assumed knowledge, in one or more of English and mathematics are normally required.

A number of universities in Australia offer relevant degrees.

Universities have different prerequisites and some have flexible entry requirements or offer external study. Contact the universities you are interested in for more information as requirements may change.

Valuers specialising in other fields, such as machinery, art, collectibles or antiques, usually have qualifications or extensive experience in their area of specialisation. Additional training is usually provided on the job.

Additional Information

In NSW, you must be registered as a valuer with NSW Fair Trading before you can undertake valuation work. See www.fairtrading.nsw.gov.au for further information.

Valuers who have completed an approved course can apply for membership of the Australian Valuers Institute (AVI) or the Australian Property Institute (API) and, with further experience, become a Certified Practising Valuer (CPV). Student membership is available with either of the above institutes.

Non-real estate valuers have the opportunity to become members of The Auctioneers and Valuers Association of Australia.

EMPLOYMENT OPPORTUNITIES

Valuers are employed by government departments or in the private sector. New or trainee valuers may spend part of their time on other tasks such as real estate sales or property management.

In the private sector, most valuers are employed by valuation firms, auction houses, real estate agencies and various financial institutions such as banks, insurance companies and building societies. There are also opportunities for self-employment.

Opportunities for transfer and promotion are available between companies, or into management of property or real estate. Movement into related areas of employment such as property development and investment management is also possible.

Prospects can fluctuate with the level of activity in the industry of your specialisation.