What is a licensed property valuer? Is it the same as a sworn property valuer?
A licensed property valuer is an accredited professional person who specialises in determining the value of real estate. They are also known as sworn valuers.
It is an interchangeable term that in reality means the same thing.
The correct formal term is a Certified Practising Valuer (CPV):
Certified Practising Valuers (CPVs) are registered and accredited with the Australian Property Institute (API), Australia’s premier professional property organisation.
Each state in Australia has a local branch, with the national head office in Canberra.
What about their qualifications:
Certified Practising Valuers have all completed a recognised property degree at university, then undertaken a minimum of two years on the job training.
Once this has been successfully completed they are then able to sit in front of a board to try and gain formal certified practising valuer status.
These are the minimum qualifications and background a CPV has.
Once the CPV status has been reached the licensed property valuer must continue to work in the valuation field, and also undertake ongoing education and professional development on a continuing basis.
All valuers have to complete significant educational and professional development work throughout the year to retain their status as a current registered member of the Australian Property Institute.
What makes Certified Practising Valuers different to real estate agents?
While each real estate professional should be objective and independent, a CPV holds a unique position in the property industry.
For all legal purposes only a certified practicing valuers opinion is considered relevant or acceptable when undertaking an assessment of a properties value.
Property valuers are recognised to be impartial experts with a high level of training and a strong adherence to a code of ethics that ensure they are independent and honest when undertaking a valuation.
A real estate agents role in the property market revolves around the sales of properties predominately, and being a commision based industry with limited training and a focus on sales there is significant incentive be less than impartial with advice to clients.
There are good reasons while courts require a valuation by a certified practising valuer, or that government departments have the same requirements.
A licensed property valuer role is to provide expert, independent and impartial real estate advice and reports that can be relied upon by all interested parties.
What are some of the reasons clients use a property valuer?
Some of the many areas in which a certified valuer can help you include:
- Pre-purchase or pre-sale valuations
- Immigration valuations
- Stamp duty valuations
- Estate and probate valuations
- Capital gains tax valuation
- Expert witness valuations
- Family law valuations
- Divorce property valuation
- Superannuation and SMSF property valuations
- Bankruptcy valuations
If you have any questions about the services Melbourne Property Valuations provides, and the ways in which we can help you feel free to contact us for an obligation free discussion.