While certifying a valuer is a must it cannot be done one and all. It has to be done only by people or entities who have rich experience and expertise in this field. Certification is a statutory requirement and therefore cannot be done away with. As a customer before availing the services of these professionals it is important for you to find out whether he or she is certified or not. Now coming to ways and means by which such certifications are given there are quite a few things that must be understood.
First and foremost, you must as a certifier understand the entire process flow starting from the time a valuation report request is received from the customers. The customers could be individuals, banks and financial institutions or even government departments. Once the application is received, the entire stage has to be monitored carefully and it must logically move from one process to another, seamlessly and with ease and least effort. This is important because tomorrow when such processes are automated they should be easily done.
It is also important to find out more about the quality of the reports that are generated from such valuers. Mere mention of the fair market value may not be enough in most of the cases. There should be a mention about the infrastructure development, the age of the property, its general condition, the area and size and the locality of the same.
It is also important that the owners of such valuation business are individuals with the highest morals and ethics because of obvious reasons. They should also be having the required qualifications which will make them a stronger candidate for instant certification. Hence, in fine, there is no doubt that certification process for valuers is quite lengthy and could take quite a bit of time to see the end of the day.Read More