Property valuation is the process of determining the value of your property. Different methods are usually employed, and this exercise is critical for various reasons, but especially, buying and selling property. The valuation report has a detailed breakdown of the cost of the property. If you’re looking to hire a surveyor for property valuation Perth, there are certain factors you need to consider, so that you get the best one.
Licensed
Valuation surveyors are required to have a license to practice. And so, always establish that they have a license. This grants you confidence, and lets you know they are going to do a good job. In the age of the internet, most property valuers have invested in a website, which is what they use to showcase their skills and attract new clients. A simple check on their website might let you know whether they are licensed or not.
Skills and Experience
Like any practice, a property valuer who has taken completed many assignments prior is much more effective than a property valuer that’s just starting. Properties can have a massive variation of form and location, but an experienced valuer knows their way around.
Also, it helps to select a valuer who’s familiar with the history, location, and neighborhood of your property. If they have a website, check their customer reviews, so that you may look at them through another customer’s eyes.
Member of an Industry Organization
Being a member of an industry outfit is a strong indication of competence, experience, and dedication. Property valuers that belong to professional bodies are familiar with a vast range of properties and locations. And if they feel incapable to perform a particular valuation, they let you know, and probably recommend another professional.
Working with property valuers who belong to a professional association means that they have the best tools for collecting information, and ensuring that their valuation reports are as accurate as can be.
Comprehensive Reports
The true test of a property valuer is their ability to draft comprehensive valuation reports. Detailed reports indicate that the valuer took into account all the significant elements. This is critical when making various decisions.
For instance, if you plan to make renovations, having a detailed valuation report is critical. It gives you a picture of the areas that need to be upgraded and it allows you to see how the renovation may affect the worth of the property. Detailed reports also enable you to keep track of the assets that appreciate or depreciate as time passes.
Good Reputation
Property valuers are obligated to perform their job without any bias. And property valuers that adhere to strict ethical principles end up garnering an excellent reputation. You may be introduced to them through business referrals or you may learn about them organically as their reputation precedes them.
You may also search around the internet to see what people are saying about them. Generally, if the valuer disappointed a client in the past, you are more likely to see it, as opposed to the happy client. But that said, property valuers that attract nothing but negative reviews are more often than not, dishonest.
Independent Valuation Company
You want to work with independent property valuers. They must not have any bias or be caught up in a conflict of interest. In case a valuer has a vested interest in the property, they are required to make it public. If you hire a property valuer that’s not independent, they might end up giving you an inaccurate valuation that would disrupt your plans, not to mention time wastage, disappointment, and loss of money.
Insurance
Different things could go awry while a property valuer is working, and so, it’s critical to deal with a valuer that has insurance. The effectiveness of the coverage is dependent on the property and its fixtures. If your property is teeming with fragile and expensive objects, you need a property valuer with additional coverage, so that you are adequately protected if the valuer causes any damage.
Easy to Communicate With
It’s wrong for a property valuer to assume that they know everything that their client wants. A property valuer needs to keep the channels of communication open, and if the client has any questions, they should try to answer them comprehensively. Such an attitude causes the client to have more confidence in the valuation surveyor.