Real Estate & Property
Property valuers assess houses, land, commercial properties and other structures to estimate market values and insurance rebuilding costs.
What does a Property Valuer do?
Property valuers assess houses, land, commercial properties and other structures to estimate market values and insurance rebuild costs.
As a property valuer, you would:
- estimate property or land values for sale or rental purposes
- estimate the value of land and the buildings on the land before it is redeveloped
- estimate the cost of rebuilding for insurance purposes
- verify legal descriptions of real estate properties in public records
- write up reports of your findings
- act as an expert witness in legal proceedings
- be aware of issues that affect values such as location, economic factors or legalities.
Property valuers may also be assessors, who value properties for government tax purposes. Assessors often value an entire neighbourhood or land area at once by using mass appraisal techniques and computer-assisted appraisal systems.
Key skills and interests
To become a property valuer, you would need:
- report writing skills
- a high level of numeracy
- observational skills
- good communication skills.
Working hours and conditions
As a property valuer you would work a standard number of hours per week, which may include evening or weekends.
You would usually be based in an office but travel extensively to valuation sites. You would require a current drivers' licence.
How to become an Property Valuer?
Entry Level Education
To become a valuer you usually have to complete a VET qualification in property services, specialising in valuation.
You may also become a valuer by studying property, property economics or valuation at university. To get into these courses you usually need to gain your senior secondary school certificate or equivalent. English and mathematics are appropriate subjects to study prior to university.
Valuers who have completed an approved course can apply for membership of the Australian Valuers Institute (AVI) or the Australian Property Institute (API) and, with further experience, become a Certified Practising Valuer (CPV).
Employment of property valuers and assessors of real estate is projected to grow about as fast as the average for all occupations.
Demand for property valuation services is linked in the shorter term to growth or fluctuations in the real estate market, and is driven over the longer term by economic expansion and population increases which are factors that generate demand for property.
Greater use of mobile technology, which allows valuers to appraise and assess properties more efficiently, will increase productivity and may slow future employment growth.