What they do
Valuers assess the financial value of land, property and other assets, including artwork, jewellery and commercial machinery. Valuations are commonly used for purposes such as selling, buying or insuring assets. Valuers examine assets to determine a range of factors, which will vary depending on the specific type of asset being valued. Factors they may consider include age, maker, rarity, size, quality or condition, location, zoning legislation and market demand. Valuers may provide advice to private and commercial investors, property owners, insurance companies or banks. In some cases they may also be called to give evidence in legal disputes, for example, when property has been repossessed to pay off a debt.
Specialisations include: Property Valuer, Real Estate Valuer
Most valuers will work in an office, though they will also regularly travel to meet with clients at home or at the client's workplace. Depending on the assets being assessed, valuers may visit a wide variety of environments including, art galleries, museums, auction houses, commercial and residential properties, vacant land, private homes and industrial worksites. Valuers usually work regular business hours, though they may sometimes be required to visit clients in the evenings or on weekends.
Tools and technologies
Valuers commonly use reference books and industry specific journals and/or market reports when assessing most types of assets. They may also use vehicles to visit clients or properties, so they may carry out evaluations on-site, which may require them to wear appropriate safety equipment, depending on activities conducted at the site. Digital cameras are commonly used to document assets being valued, particularly their quality and condition. Valuers also use a range of general office equipment, including computers.
How do I become one?
Education and training
It is possible to work as a valuer for most types of assets without any formal qualifications and get training on the job. However, you may need experience working with the types of assets for which you wish to offer valuation services.
It may improve your employment prospects if you undertake training in a relevant area, such as fine arts, art history, jewellery design or any other field relevant to your area of interest. Many universities and TAFE Colleges throughout Western Australia offer relevant courses.
To become a Certified Practising Valuer (CPV), a specialist property valuer, you will need to be accredited by the Australian Property Institute. Accreditation requires you to hold an approved university qualification in property, with two years professional experience.
Curtin University offers the Bachelor of Commerce (Property Development and Valuation). This is the only undergraduate degree in Western Australia approved for accreditation as a CPV.
Short course valuation training is also available from the Australian Auctioneers and Valuers Association of Australia and the Australian Property Institute.
Required registration and licensing
To work as a property valuer in Western Australia, you will need to obtain a land valuers licence from the Department of Mines, Industry Regulation and Safety