Valuation as a career | Pelo Khasu
How to Become a Valuer | Dianne de Wet
Should you contemplate on becoming a valuer it is your responsibility to confirm your career path with the SA Council for the Property Valuers Profession.
A valuer is a skilled professional person who determines the value of immovable property for various purposes. A great many decisions involving immovable property are made daily by individuals, companies, banks, central, provincial and local government, statutory institutions, etc. and in making these decisions the skilled valuer’s expertise is indispensable.
Valuations are required for: decision making when buying, selling or expropriating immovable property; deceased estates, mortgage bonds; levying of rates; insurance and investments purposes; rental determinations; leases; servitudes and for many other purposes.
In an ever changing economy, property values are never static and therefore a valuer has to continuously research economic trends, because they often have to predict future trends to make a valuation.
In summary, a valuer conducts valuations on residential, commercial, business, industrial and agricultural properties for a variety of purposes including sale, purchase, letting and mortgage.
2. EMPLOYMENT OPPORTUNITIES AS A VALUER
- Private sector
- Department of Public Works
- Department of Land Affairs
- Local authorities
- Estate agents
- Property developers
- Financial institutions
3. HOW TO BECOME A PROFESSIONAL VALUER
In order to pursue this profession legally, a valuer must be registered with the South African Council for the Property Valuers Profession (SACPVP), a statutory body established in terms of the Property Valuers Profession Act, 2000 (Act Nr 23 of 2000).
In terms of the South African Council for the Property Valuers Profession, Act 47 of 2000, a person who wishes to qualify for registration as either a Professional Associated valuer or Professional valuer must:
- Receive an academic qualification in Property Valuation as per Point 4 of this document and simultaneously register at the South African Council for the Property Valuers Profession (SACPVP) as a Candidate Valuer.
- Attend a Practical Workschool
- Accumulate sufficient practical experience in property valuation as specified by the SACPVP, to register as a Professional or Professional Associated Valuer, depending on the experience obtained.
- Work under supervision of a qualified valuer (Professional Valuer/Associated Valuer).
- Pass the SACPVP Admission Examination for Professional Valuers or Admission Examination for Professional Associated Valuers.
- During the period of registration as a Professional Valuer or Professional Associated Valuer, such a person must adhere to the CET hour requirements as laid down by the SACPVP.
It is recommended that Candidate valuers apply for Membership with the SA Institute of Valuers (SAIV) as Student members.
4. ACADEMIC QUALIFICATION
As indicated above an academic qualification as recognised by the SACPVP is required. The following institution’s courses are accredited by the SACPVP:
University of Cape Town (Department of Construction Economics & Management), any one of the following
- BSc together with BSc (Hons) Property Studies (4 year degree),
- Post Graduate Diploma Property Studies, or
- MSc Property Studies
University of the Witwatersrand (Wits University)
- BSc Property Studies (4 year degree)
- Post Graduate Diploma in Property Development and Management
- MSc in Property Development and Management
Master of Land and Property Development Management M.L.P.M. (M Prop): Property Valuation-Conditional Accreditation
University of Pretoria (Department of Construction Economics)
- MSc: Real Estate, or
- BSc (Hons) Property Studies together with BSc Real Estate
B Com Hons (Property Valuation & Management) together with one of the following:
- B Com Finance;
- Advanced Diploma in Property Valuation & Management; or
- Bridging Course in Property Valuation & Management (Refer to the University)
Cape Peninsula University of Technology
- National Diploma Real Estate (Property Valuation)– new enrolment until 2017- Full Accreditation
- Diploma Real Estate from 2018 Academic year—Offered as both contact and distance learning (Accreditation visit pending until 2021)
University of South Africa- (UNISA)
National Diploma Real Estate (Property Valuation)
Qualification discontinued at the end of the academic year 2011
Click here to download the pdf list from SACPVP.
These courses are as of April 2022, obtained from the SACPVP. The onus, however, rests on the prospective student to verify accreditation with the SACPVP prior to the commencement of studies. The Institute cannot be held responsible for any omissions or errors therein.
5. BURSARIES OFFERED BY THE SAIV
Bursaries are available from the SAIV’s National Bursary Fund. The following main selection criteria are stipulated:
- The student must at least have successfully completed the first year and be entering the second year, or third year of study.
- The student must be in need of financial assistance.
- The recipient must be registered as a candidate with the SACPVP and be a Student member of the SAIV.
6. ROLE OF THE SACPVP
The SACPVP is the statutory body which controls and protects the valuation profession by means of the Valuers’ Act. In order to undertake valuations in South Africa, the valuer must be registered with the SACPVP.
7. ROLE OF THE SAIV AS A VOLUNTARY ORGANIZATION
- To promote the common interests of persons carrying on the valuers’ profession;
- To establish uniform methods of valuing property;
- To provide a forum for exchanges of views, to preserve and maintain its integrity and status and with all matters affecting the professional interest of its Members;
- To establish a code of professional conduct;
- Consults with the SACPVP to determine professional fees in accordance with relevant legislation.
8. BENEFITS OF MEMBERSHIP WITH THE SAIV
- Seminars for Continued Education and Training Hours (CET) at discounted prices;
- Access to the International Valuation Standards (IVSs 2017)
- Representation on government level when required;
- A comprehensive website which provides members with a wealth of useful practical information;
- An opportunity to network with other members at seminars and workshops;
- Benefit from discounts on various profession-related products and services.
9. FURTHER ENQUIRIES
Contact the SACPVP on (012) 348 8643 should you have any further enquiries regarding academic qualifications or registration as a professional.
Alternatively contact the SAIV for further guidance and should you wish to enquire on membership with the SAIV.