Choosing a Property Valuer – The Basic Questions
We're in the property valuation zone here at Propertytoolbox now that we have Property Valuation NZ up and running. On the Property Valuation NZ website we profile NZ property valuers using standardised ‘Valuer Profile’ listings and group them by region and area – so you can compare your local valuers apples for apples before you choose one.
We ask 13 questions of your local property valuers as part of the ‘Valuer Profile’ on Property Valuation NZ – in the following article there is some background as to just what those questions are all about – just what we are trying to find out and why…
The questions below aren’t the exact questions on Property Valuation NZ – some of this stuff we already have sorted just by only profiling residential valuers and grouping them by area – but these questions form the core of what you need to know about a property valuer before you hire them and why.
The Basic Questions
Question 1: Do you normally do valuations of residential property?
Property valuers value all sorts of things – commercial property, farms, lifestyle blocks, apartments and residential houses. You will get the best degree of accuracy with your valuation if you can choose a valuer with experience valuing your type of property. Some valuers do value all these types of properties – but most will have a main focus – a property type that they spend the most time valuing – with your property valuer you want this to be residential property.
Question 2: How well do you know the area that my house is in?
A familiarity with the area will give the valuation a higher degree of accuracy. The valuer will have researched similar property before, will be familiar with house sale statistics in the area, and is likely to have visited a number of houses in the area as part of their valuation work – giving them a really good basis to give you an accurate valuation.
Question 3: Do they have any alliance or association with any of the parties involved?
Valuers have a responsibility to disclose information that could be considered to affect their ability to provide an unbiased report. If there is a close conflict of interest, the valuer should refer you on to a different valuer. Question 4: Do you hold professional indemnity insurance? Just to be safe - it is a good idea to make sure that your property valuer is insured.
Question number 3 is not covered off in the Property Valuation NZ valuer profiles – so make sure to ask the valuer this one yourself when you talk to them.
Property Valuation NZ covers off as much as possible of these questions for you – making it easy for you to choose a residential property valuer near you – we like that!