Becoming a Property Valuer

Smouse156

Just wondering the qualifications required for such a role. In my experience they usually just charge €150+ to put the sale agreed price on the valuation report regardless of how much the buyer overpaid for the property. (And no what was paid is not the market value, if comparable properties sold for much less…not that a valuer would even consider that).

What are the barriers to entry? Seems like a lucrative side gig for asking “what you pay for it”?

Gumbo

Most likely a Surveying qualification of some sort. Building Surveyor etc

You have to be able to back it up and you only get valuation surveys in my experience for BTL’s. Residential purchases usually get done by the bank themselves.

Smouse156

The banks have a panel of “valuers” who are generally independent. The question is how to get on that panel I suppose.

arctictree

So what happens if to the valuer values the house at much less than you paid for it?!

Spark Plug

Your right anybody can do a valuation but for secured bank lending strict rules were introduced EU wide on who can do valuations for loan purposes.

You will need valuation qualifications accredited by the SCSI/RICS plus have passed your APC exams in order to do Red Book valuations or alternatively TeGova run a course with IPAV to become a Residential Valuer. To get on the TeGova course you will need to provide evidence of valuation experience for the last five years. Once you have all your qualifications you need a sizeable professional indemnity insurance policy in order to get on the banks panel. As you can see there’s a lot of effort for €150!

Smouse156

Thankfully that’s never happened in Ireland! “The price is the price” valuations.

Smouse156

Agree it’s too much effort for an easy €150