There is s difference between an ordinary certificate of incorporation given under the Australian Companies Act and a certificate that is issued for running a property and real estate valuation business. While the former allows the companies to run a business in Australia, the latter is about a special certificate that allows running of a business that is totally focused on the property valuation Melbourne company.
The question that comes to the minds of many persons is whether such a certificate is required for running a valuation business. The answer is yes though as per the laws as they exist today it might not be mandatory. But one has to understand that valuation of properties is a very vital component of any buying and selling of property and thence it should be done by the right persons having experience and expertise in this field.
So if you are an entrepreneur who wishes to get started in this business you should start off by making an application for certification of the valuation business from the right authorities. The authorities on receipt of the application will go through a series of steps which will find out more about the credentials and goodwill of the organization, the facilities and amenities that they have in running the business and other such information. Only when the authorities are satisfied about the wherewithal that the company possesses do they go in for issuing the certificate.
Once the certificate is issued, it is usually valid for a particular period of time. However, during this period it is not unusual for valuation companies to monitor their performance and audit the functioning once in a while. While these audits and monitoring are not fault finding missions, they certainly help in pointing out procedural shortfalls and lacunae which when corrected will go a long in way in putting the valuation company on the right track. Hence, there is no doubt that though the law might not mandatorily prescribe for such certification, prudent valuers will certainly find lot of value in getting such certifications.Read More