Industry leader: Motlatso Maloka
Every month, SAIV profiles some of our most established property valuers who have become leaders in the industry due to many years of experience.
What made you pursue a career in property valuations?
I was an intern at the library when the advertisement was brought to my attention in 1995. I was intrigued since I didn’t know about the profession. I then pulled out a career guidance book to check what type of a career is this. Based on the requirements, I then decided to apply.
Who do you think has had the biggest influence on your career today, and why?
My father had the biggest influence since he was the one who brought the advert to me, and told me I should give it a try. Along the way, I met a number of valuers who encouraged me and believed in my capabilities. The likes of, Piet Ellof, Conelias Minnaar ,Werna Savari, Selina Mavhungu , Masape Magau, Dirk Coetzee and Louis Taderera.
The strangest property you have ever been asked to value?
I reviewed a valuation report on a dairy farm in KZN. It had a lot of industrial machinery that produced powder milk. The financials were negative due to the cows being infected with a disease, and the farmer had to get rid of the whole stock to control the infection. The machinery was highly specialised. It was an interesting valuation and it emphasised the importance of financial statements in determining value.
What do you think is one of the worst, but perhaps most common, mistakes a property valuer can make?
The analysis of sales is challenging to most valuers. Adjusting sales to suit the subject property seems to puzzle valuers. They often fail to explain how they adjusted the sales to get to the rate used for the valuation.
Complete this sentence: Every property valuer needs…. mathematical logical thinking, because every problem has a solution
Looking back on your career, what has been the biggest change you have noticed in property valuations in South Africa?
People now understand the importance of property valuations. When I started as a candidate valuer, having to explain the work I do was a mission because people in my community knew nothing about property valuations. Today, the knowledge and understanding is vast.
What risks do you see facing the property valuation industry today?
Other professions think they know and understand how to determine value, especially market value. They don’t understand that even market value itself has challenges and needs skilled professionals. The public must use professional valuers to determine value. A valuation report is a legal document and only registered Professional/Associated valuers can produce it.
Any advice for young people looking to pursue a career in valuations?
With valuations, one must be prepared to be a student for life. It is an interesting environment that changes with the economy, legislation and people’s thinking.
Are there any specialised properties which you believe would be worthwhile for any valuer to develop specific skills in valuing?
I am currently working in an environment that has plenty of agricultural farms. Each farm is specialised in its unique usage. One needs to be flexible and agile. A combination of skills will allow most valuers to adapt to specialised properties.