Property valuations aren't an opinion, they are a professional standard

Property valuations aren't an opinion, they are a professional standard
Property valuations aren't an opinion, they are a professional standard

GUEST OBSERVATION

This article is a response to Property Observer article “How independent are property valuers?” 

Q: How independent is a property valuer?

A: Very.

Propell prides itself not only their level of independence but also their commitment to quality. Propell valuers are all registered with the API and have received certified qualifications, and as rightly pointed out by Edwin Almeida in his Property Observer article 'How independent is a property valuer', valuers undergo years of university-level training to complete the jobs they do.

Propell’s well document quality management process is regularly communicated to clients, and updated to reflect changes in the market and property industry in general.

Time pressures are a reality in any professional services environment, however our valuers continuous commitment to quality is paramount.

Our staff are governed by the Australian and New Zealand valuation and property standards, as set out by the Australian Property Institute and these include strict guidelines in relation to independence, ethics, honesty and professional competency. The maintenance of these standards are not a matter of opinion, they are a professional requirement.

Propell valuers are accredited and experienced in the valuation industry and all work to ensure internal quality assurance and compliance to API standards. As stated by the API: “Following accreditation, CPVs continue to update their knowledge with regular professional development courses within the API. And this means that rather than dealing solely with statistics or relying on ‘gut feeling’, CPVs have a hands-on, professional approach and work with well-established processes and standards to produce valuations that are robust, reliable and independent.”

Our sophisticated valuer support department means our teams of valuers are backed up by a comprehensive and highly effective support model, allowing the maximum amount of time between appointments, always ensuring valuers have adequate time to appropriately assess the property in question and provide an accurate valuation figure.

We encourage owners to prepare information and do their homework when preparing for their property to be valued. The process of valuing a property is not at all simple, and the more information our teams have access to, the better. Our independent and internal research department also equips our teams with the most up-to-date and property intelligence, market information and factors affecting the areas, ensuring valuation figures are not only independent, but are sound, reflect the market but also comply with all standards as set out by the Australia Property Institute.

Bart Mead is CEO of Propell.

Mark Nassif is COO of Propell.

Tags: 
Valuations

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