When hiring a property valuer, it’s important to ensure they have the proper qualifications and expertise to accurately assess your property’s value. There are several key credentials to look for when choosing a qualified valuer.
Valuers should hold relevant qualifications from accredited institutions. In most countries, valuers are required to be licensed and registered with a professional body.
Look for valuers who hold qualifications such as:
- Bachelor’s degree in property, real estate, land economy, or related field
- Graduate diploma in property valuation
- Master’s degree in real estate or land economy
Professional bodies like the Royal Institute of Chartered Surveyors (RICS) offer recognized qualifications for valuers. Membership indicates the valuer meets certain education and experience standards.
While qualifications provide a base level of knowledge, expertise comes from years of professional valuation experience. The best valuers specialise in specific property types like residential, commercial, rural, or plant and machinery.
Ask potential valuers about:
- Years of professional valuation experience
- Types of valuations regularly performed
- Familiarity with local property market conditions
Look for valuers who keep up to date on current trends, regulations, and valuation methods. Experience brings deeper understanding of the nuances that affect property value.
Most qualified valuers belong to professional bodies relevant to their location and specialty:
- Royal Institute of Chartered Surveyors (RICS)
- American Society of Appraisers (ASA)
- Appraisal Institute (AI)
- International Valuation Standards Council (IVSC)
Membership indicates ongoing professional development and adherence to ethics standards and industry best practices.
The best reference is a positive recommendation from a past client. Ask potential valuers for client references you can contact directly.
You can also look up online reviews from past clients. Quality valuers have a solid history of good reviews for accurate valuations and great service.
The Right Fit
With the above credentials confirmed, the final factor is choosing a valuer who’s the right fit for your specific valuation needs. Make sure to communicate your property details, intended use of the valuation, and timeline.
Ask questions to find someone knowledgeable and experienced with properties like yours. With the right credentials and expertise, your valuer will provide an accurate valuation report you can rely on.