||Overview of Property Valuation
Property valuers, also known as land valuers or appraisers, are called in whenever someone wants to sell their house or take out a mortgage.
They measure and assess land and property to give it a monetary value, by taking into account market demand, trends, its condition and other amenities. Property valuers need to gain industry-recognised qualifications before they can work in Australia.
Studying Property Valuation
People who want to become land valuers need to reach Certified Practising Valuer (CPV) status with the Australian Property Institute (API).
The first step is to do an approved undergraduate property valuation course, which will qualify you for associate membership of the API.
The TAFE route involves an Advanced Diploma of Property (Valuation), followed by a Postgraduate Diploma of Property (Valuation).
After finishing your property valuation course, you will need to complete at least two years of approved work experience in the field, submit your application and do an interview with API to become a CPV.
You may also need to register with a land valuers licensing board, if your state has one.
Careers in Property Valuation
Property valuation jobs can be found with financial institutions, real estate agents, insurance firms, property buyers and sellers, and government departments. Land valuers can also set up their own business.
Full-time land valuers earn an average of $1917 a week, according to the Department of Education, Employment and Workplace Relations, and 82% of valuers are working full-time.
However, the DEEWR says job prospects are average and employment in this small field is expected to decline through to 2015.
Skills needed in Property Valuation
People working in property valuation need to have a good eye for detail and consistent accuracy.
Property valuers also need to keep learning about market trends to make their valuations.
Real Estate & Property