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What is a property Valuer?

Our official name in Australia is called a Certified Practising Valuer or CPV, not the UBER! The most common pathway to having a career as a Property Valuer is with the completion of a tertiary qualification related to property that is offered by numerous universities Australia-wide. 

 

We are trained professionals responsible for assessing and determining the market value of a property, real estate asset or plant and machinery. We are known for being unbiased, which is why we are preferred by institutions such as the Australian Tax Office, Legal System, and Financial System.

 

Property Valuers play an essential role in the property market, yet our services are often overlooked. It is essential to understand the many reasons why one might require the assistance of a valuer. Whether you are a homeowner seeking to refinance, a property investor needing to determine tax obligations, or require a valuation for insurance or matrimonial purposes, a valuer can provide valuable insights.

 

By better understanding the role of a valuer, individuals can make informed decisions and ensure they are getting the most out of their property investments.

Who Can Provide a Property Valuation Report?

Certified Property Valuers:

Licensed and certified property valuers are trained professionals with expertise in property valuation. They provide accurate and unbiased reports based on market analysis and property assessments. We are Certified by the Australian Property Institute (API). The Royal Institute of Chartered Surveyors (RICS) also offer robust and applicable Certification. 

 

The three main types are as follows:

 

  • Residential Property Valuer (RPV)

  • Certified Practising Valuer (CPV)

  • Certified Practising Valuer (Plant and Machinery)

 

Additional levels of certification can be found here at API. 

Real Estate Agents?:

No. Real Estate agents can provide detailed property appraisal reports that are quite accurate, but it's important to note that these reports are not the same as Certified Valuation Reports. It's always advisable to seek the services of licensed and certified property valuers who are trained professionals with expertise in property valuation. However, estate agents' appraisals from a reputable agency can still be beneficial, and the best part is that they come free of charge!

Banks and Lenders:

Many lending institutions don't have in-house valuers but may appear to be conducting valuations themselves. However, lenders often engage independent certified valuers to assess the property's value before approving a loan to ensure objectivity, transparency, and better risk mitigation. This practice helps to provide a fair and accurate assessment of the property's worth, which is essential for both the lender and the borrower.

Council Valuers / Valuer General

Different states have slightly differing procedures. For example, it's important to note that in Victoria, the Valuer-General oversees valuations for government property transactions and rating valuations, including valuations for council rates and land tax assessments. The staff at Valuer-General Victoria (VGV) support the Valuer-General in carrying out these responsibilities. It's important for property owners to be aware of these procedures to ensure that their property is valued fairly and accurately.

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