Valuers assess land, property and other items such as commercial equipment and objects of art, and provide advice about the administration and commercial use of land and property.
To become a valuer you usually have to complete a VET qualification in property services, specialising in valuation. As subjects and prerequisites can vary between institutions, you should contact your chosen institution for further information. You can 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 Certificate of more of English and mathematics are normally required. A number of universities in Australia offer relevant degrees. Universities have different prerequisites and some have flexible entry requirements or offer external study. Contact the institutions you are interested in for more information. Valuers specialising in other fields, such as machinery, art, collectibles or antiques, usually have qualifications or extensive experience in their area of specialisation. Additional training is usually provided on the job.
Valuers may perform the following tasks:
Valuations are made for many different purposes, such as rating and taxing, finance, financial reporting, investment, insurance, rental, sale and purchase. A significant proportion of a valuer's time is also spent writing reports. A valuer's competence is largely judged on the quality and thoroughness of a report.
Valuers are employed by government departments or in the private sector. New or trainee valuers may spend part of their time on other tasks such as real estate sales or property management. In the private sector, most valuers are employed by valuation firms, auction houses, real estate agencies and various financial institutions such as banks, insurance companies and building societies. There are also opportunities for self-employment. Opportunities for transfer and promotion are available between companies, or into management of property or real estate. Movement into related areas of employment such as property development and investment management is also possible. Prospects can fluctuate with the level of activity in the industry of your specialisation.
A real estate valuer works in the valuation of city, suburban or country real estate and with different types of properties, such as commercial, industrial, residential or retail and other business properties. They may also analyse property investment returns, consult with other industry professionals, act as expert witnesses, work out appropriate rentals and provide market valuation reports.