Valuer and Appraiser Career Description
Traditionally valuers used to be people who determined the monetary value of property, merchandise, business assets and various kinds of goods, such as works of art, precious stones, motor vehicles and personal and household effects.
What am I going to do in this occupation?
Any person can express an opinion on the value of a commodity, but very few people are able to assess the relative worth of that commodity. It is usually only properly trained people who can gather all the relevant facts, analyze them correctly and then, by relating the correct and the comparable facts to the property, express a reliable opinion on which their client can act with confidence.
Some of the purposes for which valuations are required are:
» To provide information to the parties concerned on the sale or expropriation of property where provincial or local authorities or the Government are involved.
» To determine the value of the security offered for a loan or mortgage.
» To determine the value of a deceased estate.
» The levying of rates on properties by a local authority.
» The calculation of transfer duties or taxation that are due to the Receiver of Revenue.
» To determine the value of rights over property.
» To determine the value of company assets and shares.
» To assess the amount of insurance cover.
It is obvious that in every instance the good judgment of valuers is of cardinal importance to the parties concerned, because vast sums of money are at stake.
The exact nature of valuers' work depends upon the organisation by which they are employed, such as building societies, financial institutions, insurance companies, government departments, provincial administrations, local authorities or private practices.
The working conditions of valuers can vary widely from day to day, depending on the type of valuation they are required to do. Some valuers may find themselves in a very large office environment, whereas colleagues may devote most of their time out of doors, inspecting properties. However, valuers can never be entirely office bound, because no valuation can be made without a physical inspection of the property and comparable properties. Whatever field valuers may decide on, they can expect to travel extensively.
Requirements
What kind of personality do I need? Valuers must be able to think clearly and logically to gather, co-ordinate and analyse information, facts and figures correctly and impartially and to
convey information precisely and accurately. They should also
have a technical inclination.
Most important of all is that valuers must possess unquestionable integrity and be able to keep the business of clients and sources of information confidential.
Where can I work?
Employment opportunities are offered in many spheres, some of the main ones being the following: provincial administrations, local authorities, financial institutions, property development companies and private practice.
The prospects for valuers are bright, because the general public is becoming increasingly aware of the advantages of obtaining sound expert advice on matters regarding immovable property.
Can I work for myself in this occupation?
Registered valuers can start their own practice. These private practices provide the service of consultants and also act for and on behalf of the above-mentioned organisations that might not have their own valuers, have too much work or need an independent opinion.
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