How to choose your real estate property valuer? If you are in the market for a real estate valuer then you can learn more about hiring one in this article.
If you are thinking of buying, selling, renting, or mortgaging some real estate property, doing it after a proper property valuation can increase your profit and save you money. You can hire a professional property valuer company or an expert who has a lot of interest in this area if you are buying or selling for the first time.
Property valuers can help both buyers and sellers meet their financial goals while negotiating a deal for a certain property. This article is about how you can choose the best real estate property valuer to get the best results so stay with us.
What is a Real Estate Property Valuer?
The job of a valuer is to advise their clients on the value of a certain property that they want to buy, sell, or rent. They conduct a thorough examination of the property and after looking at its every structural and functional aspect, come up with the most accurate price for the property.
Here are some of the main duties of a real estate property valuer
- Estimating the accurate market value of the property
- Documenting the findings
- Helping clients maximize profits
- Offering investment appraisals
- Offering insurance and business valuations
Importance of Hiring a Real Estate Property Valuer
Hiring a property valuer can be the best decision you ever make before making a deal regarding a certain property. These people can find out the most accurate value for your property using their knowledge of recent market trends.
If you hire an experienced valuer, you will be able to avoid any risks when it comes to buying or selling real estate. These individuals offer you the most accurate report that includes things like the size and features of the building, its age and current condition, and the available amenities near the location of the property.
Based on all these factors, they come up with the best possible price which more often than not meets the budget of the clients.
How to Choose a Real Estate Property Valuer
Choosing the right real estate valuer is not that easy. There are a lot of things that one has to consider before making this decision. Choosing a random real estate agent for valuation can lead to financial loss.
Here is how you can choose the best real estate property valuer in less time
Ask for Recommendations
The easiest way to find a real estate valuer is by asking for recommendations from people who have recently had their property evaluated. Doing this can help you get your hands on the most experienced valuer who knows the current market state and has a better idea about the comparative prices of other similar properties.
Search in Your Local Market
Hiring someone from the local area where you want to buy or sell the property is also quite effective. Since these people do most of their business in the area where you want to valuate, they can give you much better insights into the price.
Only Trusted Registered Property Valuers
Make sure the property valuer possesses the license and registration that shows they are fully able to undertake this important task. Some financial institutions also demand that all valuers must be a part of a professional body that ensures regulation in their every real estate deal.
Checking the license and registration shows that you will be getting the best service from a qualified and certified property valuer.
Hire An Experienced Valuer
Another important thing to look out for is whether the valuer has a lot of experience in dealing with properties that are similar to the one you want to buy or sell. The world of the real estate market is a really complicated one and only those valuers who have been in this business for a long time can give you the most accurate information.
Ask About the Services Offered by the Valuer
A valuation company that offers more services shows they have more qualified valuers who can deal with any type of property. Consider if they offer services like land valuation, residential and commercial property valuation, retrospective valuation, and appraisals for individuals’ properties.
A company that offers a greater number of services will be best since they have a better idea about how much a certain type of property cost in a certain location.
Enquire About Expertise
You can ask whether the valuer has expertise in the type of property that you are interested in. A valuer who has more experience in your property type can give you more useful insights about the asking price.
Ask About their Fees & Compare Costs
Different valuation experts charge you differently for their service. If you have found some valuers that offer all of the above-mentioned services and have the right experience, the last thing you need to consider is the cost.
Take quotes from different valuers and make a comparison based on the price and services that you are getting for that price. This helps you identify the most affordable valuer who offers the best results while saving you some money.
Conclusion
So, this is how you can choose a real estate property valuer in the least amount of time. If you proceed in the manner described above, you will save yourself from a lot of risks and will be able to make the best decision based on actual facts.
We really hope you find this information useful and we wish you the very best in your search for the most reliable and experienced property valuer.
Frequently Asked Questions
What is the role of the valuer?
A valuer helps you determine the price of a property after considering its size, age, facilities, location, current market trends, etc.
What are the four main elements of the property value?
The main elements of property value include transferability, demand, scarcity, and utility.
How much does a property valuation cost in Dubai?
You can have a valuation of your property in about AED 2000 to AED 6500 in Dubai. This cost can vary based on the type and features of a building.
What do valuers look for when valuing a property?
They consider things like location, age, condition, available amenities, etc., before determining the price of a property.
How long does it take a valuer to value a property?
You can get a complete certificate or report of valuation in about 5 to 10 working days.
