Valuations

The Role of Valuers

Valuers play an important role in Real Estate and most major financial transactions. As highly qualified professionals, they operate across a wide range of disciplines, which embrace Property of all types, including

Residential
Commercial
Industrial, and
Specialised Property such as
- Service Stations
- Hotels
- Motels
- Caravan Parks, etc.
Plant and Machinery and
Business for all types of purposes, including
- Sales, Purchases & Leasings
- Investment Analysis
- Finance Research
- Feasibility Studies for Development

Organisations such as the Real Estate Institute of Victoria and the Australian Property Institute believe that any decision involving property that has financial or business consequences should not be made unless based on a valuation prepared by a Sworn or Certified Practicing Valuer. Finance institutions use valuers before lending money to property purchasers and, in preparation for the introduction of the Goods and Services Tax, valuers were used to determine accurate values of properties for the purpose of calculating the GST on the sale of such property in certain circumstances.

Sworn and Certified Practicing Valuers act independently, prudently and with proper skill, care and attention when undertaking any valuation assignment.

Valuers who are members of the REIV are governed by a strict code of conduct and rules of practice as well as having to operate under State legislation. They are required to have Professional Indemnity Insurance, providing a valuable safeguard for their clients.

The Real Estate Institute of Victoria has a comprehensive referral database to help the public engage an appropriate qualified valuer. Phone (03) 9205 6677.