6 Questions you should ask your property valuer in Sydney

Getting the right type of valuer that can meet all your needs and requirements can be a hard job. There are different processes and needs for different types of properties and getting the best job done for you should be any valuer’s number one priority. With all the qualifications, guarantees and promises in the market, it is a challenge to find out who to trust and who is going to give you the best service for a reasonable price.

That is why we have put together this quick article to give you an idea of what to ask and what to look out for.

1) Does the calculation company have the resources to complete the project?

An important in a successful valuation is making sure that the valuation company has the correct resources to get the job done. Whether that is staff, time or materials needed it is essential that the company you hire can complete the job.

2) Can the company provide a sample report?

You should ask for a sample report of previous work that they have done to see it meets your requirements and make sure they can provide you with the adequate information.

Ensure the report is easy to read, highlights issues clearly and complies with industry standards.

3) Are you choosing the company on value or cost?

Don’t select a valuer based on cost alone.  Be prepared to seek a balance between cost and quality for your valuation.  First, you need to make a point to find the best valuer that you can pay for.  If you hire a company that isn’t experienced or suited t your needs, you can pay for it later.

4) Does the valuation company understand the industry you are in?

One of the critical parts of delivering a successful valuation is know what industry the assets are in. Make sure that you quiz the company that you are dealing with about their relevant knowledge of your specific market. This will save a lot of time and trouble for both parties by getting the right person to do the job for you.

5) Does the company have a structured system to deal with customers?

A valuation is a detailed document that takes a lot of work and time and won’t happen overnight. That is why it is vital for every step to be executed correctly. The process that a valuer goes through to determine the value of your asset(s) is as follows:

Pre Needs Analysis

• Site inspection
• Asset inventory
• Market Assessment
• Market Research
• Report Creation
• Report Delivered

6) Does the company have the appropriate qualifications?

You should check whether the company you are dealing with is appropriately qualified and licensed. Make sure they have the appropriate qualifications and are registered with the appropriate bodies which should be the Australian Property Institute.

Members of the Australian Property Institute are bound by:

• A Code of Ethics
• Rules of Conduct
• Professional Practice Standards

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