Valuer Kaiwhakatau Wāriu
Valuers assess the value of real estate or personal property such as art and jewellery, for sales, rentals, mortgages, insurance or rates.
Real estate valuers need to be registered with the Valuers Registration Board (VRB) and have a current Annual Practising Certificate. To register, you must:
- be at least 23 years old
- be of good character and reputation
- hold a recognised qualification
- have at least three years' experience as a valuer
- pass an oral registration exam.
Valuers may do some or all of the following:
- inspect and record details of properties, or items such as jewellery
- work out the value of a property or item
- advise clients on values for sales, insurances or rates
- check planning regulations and legal documents
- assess annual rent and running costs of properties
- write reports
- research market information
- give evidence in court.
Valuers need to be reasonably fit and healthy because they often visit sites and spend long periods on their feet. They should have good eyesight (with or without corrective lenses), good hearing, and normal colour vision.
Useful experience for valuers includes:
- real estate or land development work
- rural/farm work
- building or construction work
- banking, finance or insurance work
- work as an auction room attendant
- insurance work
- selling, repairing or making art, jewellery and antiques
- mechanical engineering work
Valuers need to be:
- honest, trustworthy and responsible
- confident and clear communicators
- observant and accurate, with an eye for detail
- able to work well independently and as part of a team
- able to keep information private and confidential
- analytical, with good decision-making skills
- good at maths and keeping records.
Valuers need to have knowledge of:
- the principles and procedures of valuation
- the history and details of the items they are valuing
- the market value of items, or how to find out this information
- styles and trends in their area of work
- valuation ethics.
Property valuers also need to have knowledge of:
- architectural and engineering plans
- building methods and materials
- property, land ownership and resource laws
- building codes and local government laws
- real estate markets
- how the economy affects the value of property.
- usually work regular business hours, but may work longer hours to meet deadlines or visit clients in evenings or weekends
- are based in offices, auction rooms, art galleries, museums, and jewellery or antique shops
- can spend a lot of time travelling locally, visiting clients in their homes, or inspecting businesses and factories for valuations. Senior valuers may travel nationally and overseas to do valuations.
A tertiary entrance qualification is required to enter further training to be a real estate valuer.
A minimum of three years of secondary education is recommended to become a personal property valuer.
Useful subjects include art history, business studies, English, economics, mathematics and painting, sculpture, photography, printmaking combined.
Valuers may specialise in:
- art and heritage items
- real estate.
Years Of Training1-4 years of training usually required.
To become a valuer you need to be of good character and reputation.
Becoming a real estate valuer
To become a real estate valuer you need to have one of the following:
- Bachelor of Property
- Bachelor of Business
- Bachelor of Land and Property Management (Urban or Rural Valuation)
- Bachelor of AgriCommerce (Rural Valuation)
- Graduate Diploma in Valuation
- Graduate Diploma in Property Management
- Graduate Diploma of Property
- Postgraduate Diploma of Business Administration.
You also need to be registered with the Valuers Registration Board (VRB) and hold a current real estate valuer's Annual Practising Certificate.
Becoming a personal property valuer
To become a personal property valuer it is recommended that you complete:
- on-the-job training with an employer or valuation company
- a valuation course offered by an international appraisers' organisation such as the American Society of Appraisers (ASA) or the International Society of Appraisers (ISA).