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Valuer

Kaiwhakatau Wāriu

Alternative titles for this job

Valuers assess the value of real estate or personal property such as art and jewellery, for sales, rentals, mortgages, insurance or rates.

Pay

Graduate and newly registered valuers usually earn

$37K-$55K per year

Senior valuers with at least five years' experience usually earn

$80K-$150K per year

Source: Property Institute NZ and Hays, 2017.

Job opportunities

Chances of getting a job as a valuer are good for those in real estate and average for those in personal property.

Pay

Pay for valuers varies depending on experience.

  • Graduate and newly registered valuers usually earn between $37,000 and $55,000 a year.
  • Mid-level valuers can earn $55,000 to $80,000.
  • Senior valuers with at least five years' experience can earn $80,000 to $150,000.

Source: Property Institute of New Zealand; Hays, 'Hays Salary Guide', 2017.

(This information is a guide only. Find out more about the sources of our pay information)

What you will do

Valuers may do some or all of the following:

  • inspect and record details of properties, or items such as jewellery
  • work out the value of a property or item
  • advise clients on values for sales, insurances or rates
  • check planning regulations and legal documents
  • assess annual rent and running costs of properties
  • write reports
  • research market information
  • give evidence in court.

Skills and knowledge

Valuers need to have knowledge of:

  • the principles and procedures of valuation
  • the history and details of the items they are valuing
  • the market value of items, or how to find out this information
  • styles and trends in their area of work
  • valuation ethics.

Property valuers also need to have knowledge of:

  • architectural and engineering plans
  • building methods and materials
  • property, land ownership and resource laws
  • building codes and local government laws
  • real estate markets
  • how the economy affects the value of property.

Working conditions

Valuers:

  • usually work regular business hours, but may work longer hours to meet deadlines or visit clients in evenings or weekends
  • are based in offices, auction rooms, art galleries, museums, and jewellery or antique shops
  • can spend a lot of time travelling locally, visiting clients in their homes, or inspecting businesses and factories for valuations. Senior valuers may travel nationally and overseas to do valuations.

What's the job really like?

Jasmine Fung

Jasmine Fung

Valuer

How does someone become a real estate valuer?

"You do three years at university, then three years working under a registered valuer. Then you submit your portfolio of reports and do an oral exam to get registered. It’s analytical, you get to do office work and go out. And I enjoy looking at buildings."

What does a real estate valuer do?

"We do rental assessments for new leases or when leases are up for rent review. We also do current market valuations for sales and purchases, mortgage financing and insurance valuations. Meeting deadlines and dealing with some clients can be a challenge, and the workload varies – often we're non-stop. But you get to go inside so many different, cool buildings and see behind the scenes."

What’s the future of real estate valuation?

"There aren’t many women in the industry and more than half of registered valuers are aged 50 or over. We need to employ more young people, especially women."

How does this role balance with the rest of your life?

"It’s mostly 40 hours a week. If you have to meet deadlines you might occasionally work harder or take a shorter lunchbreak. It can be quite a flexible job. You could even work from home – it depends on your employer."

Entry requirements

To become a valuer you need to be of good character and reputation. 

Becoming a real estate valuer

To become a real estate valuer you need to have one of the following:

  • Bachelor of Property
  • Bachelor of Business 
  • Bachelor of Land and Property Management (Urban or Rural Valuation)
  • Bachelor of AgriCommerce (Rural Valuation)
  • Graduate Diploma in Valuation
  • Graduate Diploma in Property Management
  • Graduate Diploma of Property
  • Postgraduate Diploma of Business Administration.

You also need to be registered with the Valuers Registration Board (VRB) and hold a current real estate valuer's Annual Practising Certificate. 

Becoming a personal property valuer

To become a personal property valuer it is recommended that you complete:

  • on-the-job training with an employer or valuation company
  • a valuation course offered by an international appraisers' organisation such as the American Society of Appraisers (ASA) or the International Society of Appraisers (ISA).

Secondary education

A tertiary entrance qualification is required to enter further training to be a real estate valuer.

A minimum of three years of secondary education is recommended to become a personal property valuer.

Useful subjects include art history, business studies, English, economics, mathematics and painting, sculpture, photography, printmaking combined.

 

Personal requirements

Valuers need to be:

  • honest, trustworthy and responsible
  • confident and clear communicators
  • observant and accurate, with an eye for detail
  • able to work well independently and as part of a team
  • able to keep information private and confidential
  • analytical, with good decision-making skills
  • good at maths and keeping records.

You have to like talking to people – you’ve got to get out there and find information. And you have to be analytical too.

Photo: David Cornford

David Cornford

Property Valuer

Useful experience

Useful experience for valuers includes:

  • real estate or land development work
  • rural/farm work
  • building or construction work
  • banking, finance or insurance work
  • work as an auction room attendant
  • insurance work
  • selling, repairing or making art, jewellery and antiques
  • mechanical engineering work 
  • photography.

Physical requirements

Valuers need to be reasonably fit and healthy because they often visit sites and spend long periods on their feet. They should have good eyesight (with or without corrective lenses), good hearing, and normal colour vision.

Registration

Real estate valuers need to be registered with the Valuers Registration Board (VRB) and have a current Annual Practising Certificate. To register, you must:

  • be at least 23 years old
  • be of good character and reputation
  • hold a recognised qualification
  • have at least three years' experience as a valuer
  • pass an oral registration exam.

 

Find out more about training

American Society of Appraisers
asainfo@appraisers.org - www.appraisers.org
International Society of Appraisers
isa@isa-appraisers.org - www.isa-appraisers.org
Jewellery Appraisers Society of New Zealand Inc
(07) 577 1979 - carver.petersen@xtra.co.nz - www.jasnz.co.nz
Jewellery Valuers Society of New Zealand
(09) 377 0730 - info@jvsnz.co.nz - www.jvsnz.co.nz
Property Institute of New Zealand (PINZ)
(04)384 7094 - national@property.org.nz - www.propertyinstitute.nz

 

Check out related courses

What are the chances of getting a job?

About 1,200 people worked as valuers in New Zealand in 2017. Statistics New Zealand predicts this number will grow to about 1,645 by 2025.

Demand for real estate valuers strong

Chances of getting a job as a real estate valuer are good because:

  • a booming housing and construction industry has created demand for their services
  • natural disasters have increased the need for insurance valuations
  • not enough people are training to replace valuers due to retire soon.

Demand for personal property valuers average

Chances of getting a job as a personal property valuer are average due to limited vacancies.

As New Zealand's population is ageing, demand for personal property valuers to value items for wills may rise.

Technology may impact valuer jobs

Technology has been developed that can research multiple sources of information to provide quick values on items, especially in real estate. This technology may help valuers with their work in the short term, but in the long term it may replace the work they do. This could lead to job loss.

Types of employers varied

Most valuers work for:

  • property valuation companies
  • investment property companies
  • real estate agencies
  • banks
  • district councils
  • auction houses
  • second-hand dealers
  • insurance companies
  • museums and art galleries
  • jewellery and antique shops.

Sources

  • Ministry of Business, Innovation and Employment, 'National Construction Pipeline Report 2017', July 2017, (www.mbie.govt.nz).
  • Ministry of Business, Innovation and Employment, 'Occupation Outlook', 2017, (www.mbie.govt.nz).
  • Nilsson,P, jewellery valuer, Careers Directorate – Tertiary Education Commission interview, August 2017.
  • Property Institute of New Zealand, 'Construction Peak to be Higher, Last for Longer', 7 August 2017, (www.propertyinstitute.nz).
  • Property Institute of New Zealand, 'Lincoln University Doubles Property Studies Intake after Fears of Shortfall', 8 April 2017, (www.propertyinstitute.nz).
  • Stylianou, N et al, 'Will a Robot Take Your Job?', 11 September 2015, (www.bbc.com).

(This information is a guide only. Find out more about the sources of our job opportunities information)

Progression and specialisations

Valuers may specialise in:

  • art and heritage items
  • furniture
  • jewellery
  • machinery
  • real estate.

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A property valuer inspects the outside of a house and puts her findings into her tablet

Valuers may assess the value of houses

Last updated 2 July 2019