There are many reasons for requiring a property valuation, and most will occur during times of financial change. Because of this, you may be tempted to settle for an alternative valuation provider such as a real estate agent.
However, there are many advantages to hiring an independent property valuation service. A property is a major asset, and any decisions regarding sale, purchase, transfer or calculation of value for any purpose need to be well-informed.
In order to get the most accurate value for your property, you must choose an expert and qualified valuation provider. Here are the benefits of choosing this service:
At an independent property valuation company there are certain industry standards the valuers must meet. This includes the level of qualifications they are required to have.
Professional property valuers will have a university degree and be further registered with the industry standards provider in their area. In Australia this is the Australian Property Institute (API).
As many companies offer valuation services without having qualified and registered valuers, it is important remember to do your research before choosing a valuation service. Ask what qualifications your valuer will have. If they aren’t required to obtain the relevant certificates, you will not be guaranteed a valuation report that holds up to industry standards.
At Melbourne Property Valuers, our team of valuers are all API trained and certified, and undergo ongoing professional development throughout their careers.
Compared to a realtor or bank valuation, a property valuation provided by an independent service will be backed by years of relevant experience.
In contrast, a valuation provided by a real estate agent is not performed to the same standard, and has no professional valuation experience supporting it. A realtor or bank valuer will view the property through the lens of their everyday work, which may conflict with the correct process to receive a fair valuation.
At an independent valuation company like Melbourne Property Valuers, you know that the valuer you hire has extensive experience in property valuation across a wide range of purposes and property types.
In fact, all our valuers have over 20 years of experience behind them, and solely work as property valuers, meaning they have up to date and relevant experience in your local area.
One of the main advantages of choosing an independent property valuation service is that they will be able to complete the valuation as a neutral third-party expert.
Other valuation options may have a stake in the valuation result and thus give you a result that is not accurate. For example, a real estate agent may way to give a higher valuation in an aim to please you as they are hoping you will hire them to complete the sale.
Likewise, bank valuations are completed for their internal purposes, and only take into account the value based on a quick sale. This is to protect their own interests when approving a loan.
With a professional, independent valuation company, the service you receive will be free of agenda and bias. Instead you will receive an accurate and honest value of your property, and a valuation report that has been prepared with complete integrity of the valuer.
Independent property valuers are qualified professionals with a wealth of knowledge behind them. As their job involves constant research into the current state of the property market, they build in depth knowledge of recent sale prices and property trends.
In addition to this, an independent valuer has access to extensive databases with real estate and property information to assist in their research.
A core part of valuing a property is finding comparative sales data, and both their firsthand knowledge and specialised tools available to them give independent property valuers the advantage in this regard.
The final advantage to hiring an independent property valuation service over any other provider is the level of expertise they have.
Your property is likely your largest asset, and any decisions made regarding it can’t be taken lightly. Especially if you have a specialised purposes for your valuation such as calculating tax liabilities or insurance premiums, having an expert team behind you will put you in the best hands.
At Melbourne Property Valuers, our valuers are able to provide expert advice and service for any property type or valuation requirement.
As certified valuers, the valuation reports provided are all legal documents, and in addition can be prepared for specific legal circumstances. If needed, the reports can be formatted in order to present in court, to taxation offices, or government bodies.
This level of expertise ensures that all property valuations provided are accurate and extensively detailed.