Posted on Tuesday, March 1st, 2011 in by Matt Garmony
Licensed valuers in Perth and Western Australia are experienced property professionals, licensed under the Land Valuers Licensing Act of 1978 and governed by the Land Valuers Licensing Board. Each Licensed Valuer is issued with a Land Valuers License which has to be renewed every 3 years.
A person who wishes to practice as a licensed property valuer in Perth and WA must undergo significant theoretical and practical training before being considered to sit for their Land Valuers License. The intending valuer must complete a 3 to 4 year Bachelor of Commerce, university degree at Curtin University of Technology, majoring in Property. B.Com (Property)
The person is then required to obtain 2 years full time work experience in the valuation industry under close supervision and guidance of an experienced Licensed Valuer. At Garmony Property Consultants we provide our trainee valuers to a broad range of property types and valuation situations, explain the methodologies that should be utilized for different property types and why they are appropriate, and encourage the trainee valuers to “Think outside the square”. With thorough one on one training, assisting and receiving guidance from senior licensed valuers, our trainee valuers develop the necessary knowledge and skills in market analysis, communication and report writing, in preparation for sitting for their Land Valuers License.
In Western Australia, the Australian Property Institute (API) undertakes the examination role on valuers wishing to obtain their Land Valuers License. The Professional Interview process (previously the Viva-Voce) is an intense written and oral interview by 3 experienced senior licensed valuer members of the API, who critic valuation reports prepared by the valuer and then determines if the valuer has suitable knowledgeable of the valuation industry and the broad property market, to represent the Australian Property Institute as an Associate member. Once admitted as an Associate member of the API, the valuer can apply to the Land Valuers Licensing Board, providing character references and Police clearances for a Land Valuers License.
This whole process generally takes between 4 and 7 years depending on the valuers experience and training. Licensed Valuers must also complete a Continuing Professional Development (CPD) program to maintain their Certified Practising Valuer status with the API. All Licensed Valuers at Garmony Property Consultants, are Certified Practising Valuers and regularly attend CPD programs to further and refresh their knowledge of the property industry.