There is a constant need to determine the value of property for the purpose of financing, reporting to shareholders, cost accounting, mergers or takeovers… through to rent reviews, rates assessment, expropriations, arbitration and litigation. One of the frequent applications of the valuer’s skill is to determine values for the purpose of purchase or sale.
A valuer is a professional trained to determine such values, execute feasibility studies and provide expert advice on property-related matters. As such, an independent valuer can provide impartial and motivated reports on the value of real or limited rights to land.
The valuer does not invent value, but interprets market forces which determine the value. Hence, the valuer requires a combination of a number of professional qualities and capabilities, and needs a thorough knowledge and understanding of the interacting influences which create, maintain or diminish the value of property or rights thereto.
Valuers are qualified to undertake valuations in all classes of properties, including commercial and industrial properties, all types of residential properties, agricultural and special use properties.
However, most valuers tend to specialise and do not undertake the full range of valuations. It is therefore vitally important for clients to select and appoint a registered valuer with the relevant practical experience required to undertake the specific valuation. The General Manager of the Institute can assist potential clients in this regard.