Why use a Registered Valuer?

Links to areas below:
The valuer as a professional | Professional expertise | Reasons for using a valuer | Membership list

The valuer as a professional

A valuer is a professional who has been educated and trained to determine the value of fixed property, execute feasibility studies and provide expert advice on property-related matters. An independent valuer can provide impartial and motivated reports on the value of real or limited rights to land.

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. The valuer does not invent value, but interprets market forces which determine the value.

Professional expertise

In order to pursue this profession legally, a valuer must be registered with the South African Council For The Property Valuers Profession, a statutory body established in terms of the Property Valuers Profession Act, 2000 (Act NO 23 OF 2000). The act makes provision for three categories of registration, namely Professional Valuer, Professional Associated Valuer, and Candidate Valuer.

The Council has laid down minimum examination and practical experience requirements. Registration as an associated valuer can only be achieved once a candidate has successfully completed the National Diploma in Real Estate (Property Valuation) or one of several recognised university degrees, together with a minimum of three years' practical experience. A further two years' relevant practical experience is required before an associated valuer can submit him- or herself for elevation to valuer.

Continuing professional education is encouraged for all members of the South African Institute of Valuers and its specialist seminars, workshops and quarterly journal keep members abreast of national and international market trends and innovations. The academic and professional standards of members are consequently maintained at a high level.

Valuations: Know your worth (some of the reasons for using a valuer)

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 purchase or sale, and for insurance purposes.

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 Secretary or the local branches of the Institute can assist potential clients in this regard.

A list of all the members with their specialist fields and their contact information is available from the membership list.

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