Before understanding the need to identify the right valuer it is important to have a reasonably good idea about the importance and significance of valuation in the first place. Valuation is mainly done to have the right and authentic information about the fair market value of a property that is either being bought or sold. Since any real estate buying or selling could run into thousands or even millions of dollars, it is very important for us to be sure that the transactions is being done at the right price. Though the market could give an indicative rate of the property in question there is a need to have it corroborated from a professional valuer. Hence, there is a big importance of valuation report from a qualified, certified and experienced valuer.
Now that we have a reasonably good idea about valuation and its importance, let us try and find out the various ways and means by which we can identify the right valuer. The first attribute of a good valuer is that he must have rich experience in this field. As a rule of the thumb, customers should only look for valuers who have put in at least ten years or more into their valuation business. Experience counts a lot in this business and some of the most complicated and tough valuation cases are best handled by valuers who have the right experience in this field.
The next important point that should be kept in mind is the need to have a formal qualification and a formal certificate. Without these two things not being in place, it would always be better to stay away from such service providers. Thirdly, a good valuer is one who must be able to offer all types of valuation services to their customers. They must also be well aware with the various methods of valuations. Whether it is revenue method of valuation, cost method of valuation or something else, they must be able to meet the customers’ requirements perfectly well.
It is also important that modern day valuers must make effective use of the internet technology apart from automating the entire valuation process. This will go a long way in offering valuation at a cost effective pricing and will also save on valuation time.