• Real Estate Surveyors & Valuers + Facility Managers

What is an independent property valuation?

A valuer assesses the value of land, buildings, improvements and other factors that influence the value of your property, a process that usually involves an external and internal inspection of the property. Valuers are independent with no vested interest in the properties they value. A valuation report is a professional and legal assessment of the value of your property prepared for many different purposes.

Is a valuation different from a real estate agent's appraisal?

An independent valuation and a real estate agent's appraisal are documents that are created for different purposes. An agent uses his expert local market knowledge to arrive at a selling figure at which the property should be placed on the market. A valuation is carried out by a qualified property valuer for a variety of clients including banks, solicitors and individual property owners for a wide range of purposes.

What qualifications does a valuer have?

A valuer must complete relevant tertiary level qualifications and be licensed or registered by the appropriate body to practise as a certified  valuer. Only qualified valuers are recognised by courts of law as expert interpreters of the property market.

What are some of the key attributes valuers look at?

When valuing a property a qualified property valuer will consider the following:

    The land size, the aspect or views afforded by the property and the topography and layout of the block and house
    The size and layout of the building
    The location of the property in relation to schools, public transport, shops and amenities
    The architectural style of the dwelling
    The condition and state of repair of the property
    Whether the property has renovation or development potential
    The highest and best use for the property
    The number of bedrooms and bathrooms
    The size of the kitchen and bathroom(s)

What is an investment-grade property?

Not all residential properties make great investments. Less than 10% of properties outperform the market growth rate in most conditions. When the market is accelerating, only a select few properties tend to lead the pack, and when it slows, it is these properties which tend to hold their value.  As the capital value grows over time, so does the owner's equity along with the rental dollar return these properties provide.

Why should property owners use a professional management service?

Failure to be up to date with the latest legislation and industry standards can leave landlords open to liability and negligence claims. Also, landlords often lack the time to establish clear and detailed reporting systems and subsequently overlook potential issues or opportunities that will impact the growth of their asset.

How do you select a property manager?

Select a company that is professional and that will work in partnership with you to establish reporting and analysis systems that will enable you to step back and make better decisions about funding purchases and equity.

Good questions to ask include: “What compliance system do you have in place to avoid human error?” and, “Have you got dedicated experts in areas such as a lease administrator, accounts, property management and asset management?”

More in this category: « Glossary