Importance Of Certifying A Real Estate Valuer

Certifying a real estate valuer is a very important job and it has to be done only by those who have been empowered to do so. The government has some very clearly laid down rules and regulations for certifying a real estate valuer. These should be followed like a bible to enable a valuer to get a certificate which allows him the permission to carry on this business. The guidelines are quite strict and complying with them requires putting together quite a few things and tying up a number of loose end. For example, there is a need to put in place the right infrastructure and processes to enable correct, fast and continuous valuation. There could be times when the number of valuation report requests could increase to quite a few dozens. A good valuer should be able to handle such increased volumes efficiently and more importantly without compromising the quality of services. This certainly calls for a lot of training of the staff and more importantly understanding the various rules and regulations totally and fully.

The authorities may not directly take it upon themselves to get into the actual of process of working on the various modalities of each and every valuer before certifying them. They outsource the job to a few qualified individuals and institutions. The onus lies on them to examine the valuer and his functioning on various parameters. Only when it is found that all the parameters have been met is the certificate issued to them. The certificate has a limited validity period and needs to be renewed. The renewal is not automatic but subject to examination and scrutiny y of the process once again. Hence, getting a certificate as a valuer is not an easy job. However, once a company or individual gets it, there is no doubt that it will go a long way in helping the valuer to aggressively sell their services to new customers and prospects.

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Why The Need For Certifying A Property Valuer

The main objective of certifying a valuer is to ensure that he is competent enough to perform the job that he is supposed to do. Valuation of real estate properties is a very important job and unless it is done properly and thoroughly there is reason to doubt the integrity of the entire property transaction. In fact, the valuation report given by the valuer is the fulcrum around which the entire property transaction or buying and selling revolve. The report talks about the fair market value of the property and helps both the buyers and sellers to make up a clean and satisfactory buying decision. Given the above factors it is extremely important that the right valuer is appointed for the right job. This is where the job of certifying a valuer becomes extremely important.

When certifying a valuer a number of factors are taken into account. Though still not mandatory in many provinces, a formal qualification in valuation related matter is considered a pre-requisite. Secondly, it is also important for such valuers to have put in at least a minimum number of years service in this business. Thirdly they must have the knowledge to conduct various types of valuations, both related to real estate and other properties. The processes should be well defined and there must be transparency in the way the entire thing is done. Apart from being efficient and professional, there must be complete transparency as far as these valuations are concerned

The certifiers spend lot of time examining and monitoring each and every process and if found satisfactory they accord certification to the valuers. If there are shortcomings or lacunae, then the certification is held back and the valuation companies are ask to rectify the same. At the end of the day there is no denying the fact that certifiers play a proactive and positive role which is helpful both to the valuers and the customers. It should therefore be looked at a means by which the overall performance levels of valuers can be increased.

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