What is the difference between a valuation and an appraisal?
Generally an appraisal is prepared by a real estate agent and is used as a guide to pricing a property for sale or for rent, and a valuation is conducted by a Registered and qualified valuer specifically for that property..
An appraisal is simply an estimate or an opinion of a property’s current market worth, considering what the market is responding to and other factors. This is usually offered as a free service by real estate agents with no formal training.
A property valuation is a written report prepared on the property and a fee is charged for this service as a valuation is conducted by a Certified Practicing Valuer.
What does it take to become a valuer?
To become a Registered Valuer requires a degree qualification of between 3-4 years. In additional there is a two year practical work experience requirement before sitting a face to face examination with the Australian Property Institute and Registration Board.
Redland City Valuers provides residential valuations for all purposes and has a team that specialise in the Redlands area residential property market. All our valuers provide independent unbiased advice.