What is a Property Valuer and what do they do?
Property valuation is a professional occupation like law or accountancy. The registration of Property Valuers is governed by the Valuers Act 1948 and the Valuers Registration Board oversees the registration of Valuers. Property Valuers belong to the Property Institute of New Zealand which is the professional body responsible for the development of the profession.
A Property Valuer advises on residential, commercial, rural and industrial real estate. Typical duties may involve inspecting properties, checking planning regulations to see if changes to property are allowed, researching sales of properties, writing reports, and examining current property prices. Property Valuers make judgments about the value of properties to enable others to make informed decisions about lending, investments and pricing amongst other things.
Valuers enjoy the variation that the occupation brings. In particular they are not stuck behind a desk - the job requires Valuers to leave the workplace and visit various sites (e.g. farms, factories and office blocks). In addition they have the opportunity to communicate with a wide range of people - clients, lawyers, accountants, engineers, and land surveyors.
What does it take to be a Valuer?
The skills required to become a Valuer include having excellent communication skills (written and oral) and good listening skills.
At secondary school level, the best subjects to take to prepare you for a career in property (in no particular order) are mathematics, English, accounting and economics. For more information talk to your school careers advisor.
Three universities in New Zealand (Massey, Lincoln and Auckland) offer a property qualification - a three-year degree in business with a major in valuation and property management. Graduates from these degrees are able to become registered Valuers and members of the Property Institute of New Zealand.
Reciprocity agreements
The board has reciprocity agreements with other countries where the other countries' educational and standards are equal to those required by the New Zealand Board for requiring registration. In addition, overseas qualifications not eligible under the reciprocity provisions may still be considered.
Reciprocity agreements have been entered into with the following organisations:
- Great Britain - Royal Institution of Chartered Surveyors
- Canada - The Appraisal Institute of Canada
- Australia - Registration Boards (where these continue to exist) and the Australian Property Institute