Valuer

Valuation is a profession closely related to real estate.  A valuer determines the value of property based upon market conditions at a given time.

Valuations are used for a variety of purposes:

• the calculation of land tax, municipal rates and stamp duties on property transfers and loans
• insurance compensation
• family law settlements
• assessing mortgages
• assessing the value of assets
• assessing rent for leases
• establishing the value of properties for sale.

Valuers in city or suburban locations usually value houses, vacant land sites, commercial and industrial property, shopping centres and blocks of flats.

The valuer’s clients include banks, government departments, property developers, insurance companies or building owners.

While it is not essential that a valuer have an estate agents licence, most obtain the licence in addition to a Bachelor of Business.  Valuations are an important part of most property development projects.