But property valuing is a niche within these professions that not many people know a lot about. We spoke with two Deakin alumni: James Rodden and Chris Taig to learn some insider information about life as a property valuer.
What is a property valuer?
Although still within the property market, property valuers work independently of real estate agencies. The services that a property valuer provides are used by the banks or financers that are chosen by the buyers of a prospective property.
Chris Taig completed a Bachelor of Commerce at Deakin University and has subsequently pursued a 10-year career in the property industry.
He explains that a real estate agent and a property valuer’s roles are very different: ‘While a real estate agent is driven by the highest achievable price within the market conditions, a property valuer’s role is to work out the true value of a property.’ Because of this, resulting valuations can have a direct impact on property sales.
Finding your way
For most, property valuing isn’t something that comes to mind when you are asked what you want to be when you grow up.
For James Rodden, he knew accounting wasn’t for him, but it wasn’t until after he had completed his accounting degree that he thought of pursuing a career in property. ‘I always had an interest in property, so I decided to undertake a Graduate Diploma of Property at Deakin,’ he explains.
The adaptable course options currently available mean that you can pursue a course that is of interest to you, and that fits easily into your lifestyle. James chose to study online. ‘I enjoyed studying due to the flexibility an online course provides,’ he says.
A day in the life
As a property valuer each day is unique and diverse. James outlines that a typical day can involve property inspections, report writing and undertaking market research. ‘I also have the ability to work remotely which provides a lot of flexibility,’ he adds.
James also says that his career involves a lot of travel for work and can include travelling interstate when required.
Like other jobs that require liaising with clients and inspecting various properties, no two days will ever look the same.
The sweet and the sour
Ask anyone with a job and they’re likely to tell you there are both pros and cons associated with their role. It’s no different for a property valuer. Although it involves travel and flexibility, James also points out that there are challenges that come with working in the industry. ‘It can be long hours from time to time,’ James says.
But for some, the appeal of being able to work from home or on the road, the diversity of each day and the frequent interaction with clients and others may outweigh the sporadic periods of long working days.
Those who like to travel may find this attraction in the profession, as James has. He lists travelling interstate to undertake portfolio valuations as being up there with some of his career highlights.
James also talks about becoming a Certified Practising Valuer as the pinnacle of his career so far. ‘It essentially involved two years of supervised work and an oral exam,’ he says. This was a rewarding achievement as a result of James’s hard work and dedication to his profession over that time.
Tips and insider secrets
Networking is a crucial part of any successful career and allows you to broaden your thinking, create new relationships with future clients or encourage word-of-mouth referrals. James suggests that reaching out and connecting with people during your time at uni is a hot tip for those thinking of following a career in property.
James stresses that building and nurturing your relationships along the way is also crucial to success. ‘The entire property industry is small and maintaining relationships becomes useful over time,’ he says.
The perfect fit
Thinking that property valuing may be for you? James believes that someone who is motivated to learn will be a good fit. Because of the nature of the job, it is also crucial for someone to have the skills to work both independently, and as part of a team.
So if you are highly motivated, an autonomous worker who can work collaboratively, and enjoy working closely with people, a career in property valuation may be for you. Throw in some travel, flexible working conditions and various challenges you may face with each new day, and you may have found your dream career.
Originally published on this.