A real estate valuer (or appraiser) assesses the value of property, land, or real estate for various purposes such as sales, purchases, taxation, mortgages, insurance, or legal disputes. Their work involves detailed research, analysis, and reporting to provide an accurate, unbiased estimate of a property’s market value. Here’s what they typically do:

Key Responsibilities:

1. Property Inspection

• Examine the property’s condition, size, layout, and any unique features.

• Evaluate the location, neighborhood, and accessibility.

2. Market Analysis

• Research current market trends and comparable property sales (comps).

• Consider economic, social, and environmental factors affecting property value.

3. Valuation Techniques

• Use various methods to estimate value, such as:

• Sales Comparison Approach: Comparing with similar properties recently sold.

• Income Approach: Evaluating potential rental income (common for commercial properties).

• Cost Approach: Calculating the cost of replacing the property minus depreciation.

4. Data Collection

• Gather legal details like zoning, title deeds, and easements.

• Review construction quality, renovations, and potential liabilities.

5. Reporting

• Prepare detailed valuation reports for clients, banks, or government entities.

• Justify the valuation with supporting evidence and methodology.

6. Advisory

• Provide advice on how to enhance property value.

• Assist in negotiations during transactions or legal disputes.

Skills Required:

• Strong analytical and research abilities.

• Attention to detail.

• Knowledge of real estate markets and regulations.

• Effective communication for reporting and advising.

Real estate valuers play a crucial role in ensuring fair property transactions and investments by providing an objective assessment of value.