Becoming a property analyst or valuer

[Gatoblanco]

I am interested in doing some post grad quals in Property to become a property valuer or work for a development company or some sort of property career (not sales, I am not sure I have the people skills).
Are there any valuers on this forum who could tell me if there is any way around getting paid low pay for the 2yrs while I do the professional practice to get certified.
I cant afford 2 yrs on a lower income because I wont be able to pay my mortgage.
Thanks
Jesse Taylor

 

[MarkB]

For one, the University of Newcastle offers a Master of Property degree which can be done externally, thus allowing you to continue to work while you get a specific property qualification.

The University of New England offers a Graduate Diploma in Urban and Regional Planning, also externally.

Have you enquired with any of the large developers about what they look for in prospective applicants?

I have no idea what Michael Matusik's background is, but there's a link on the RHS of his website - "Come work for us - Think outside the box? So do we. Tell us in 300 words or less why you want to work at Matusik".

M

 

[eKwatee]

I am interested in doing some post grad quals in Property to become a property valuer or work for a development company or some sort of property career (not sales, I am not sure I have the people skills).
Are there any valuers on this forum who could tell me if there is any way around getting paid low pay for the 2yrs while I do the professional practice to get certified.
I cant afford 2 yrs on a lower income because I wont be able to pay my mortgage.
Thanks
Jesse Taylor

If I was you I would research what the future was for residential valuers. I heard the Commonwealth Bank has just reduced their rate to $90 a valuation to contract valuers. I believe more & more of the valuations are conducted using RP Data etc. I have heard that if the contract price falls within the predictive valuation of statistics such as RP data, that some of the banks will consider this to be an accurate assesment and not even order a Val. Also speaking to a contact who runs a Depreciation company has told me they aren't even going to employ an in house valuer and out source because of the market rate of valuations. Not saying there isn't going to be a need just letting you know what I've heard. I'm sure Valuers for commercial are still going to be around for a long time but Resi. not so sure.

 

[Raddles]

Hi there
just in relation to the comments on future valuations - definately think that commercial valuatons is still a goer and also farming properties.
The electronic valuations don't satisfactorily factor in things like subdivision potential etc
For urban areas with a fairly high turnover of properties, they get closer to the mark.
thanks

 

[Gatoblanco]

I wasnt so concerned money while doing the qualification as there are lots available part time. But my understanding was that after you have the qual you still need to do two years supervised practice at which time you get paid about 30-40k until you are then certified. Once you are certified you get about 80k is what I have been told by Herron Todd White and also a property industry recruiter.
I am trying to clarify with the API about the certification but they are difficult to get hold of. That is why I was interested in hearing from any valuers.
80k is a LOT more than I get now which is why I am keen.
I was also told and have read that there is a serious shortage of valuers. Certainly at the moment there is. Minimum quals are required that is why. That also attracted me.

 

[MarkB]

I was also told and have read that there is a serious shortage of valuers. Certainly at the moment there is. Minimum quals are required that is why. That also attracted me.

Look a bit closer at this before you get too far down this path.

Just been thinking about this - the property market has been pretty hot stuff in Australia for the past few years.

Universities aren't stupid - they see that and think "mmm, we can now offer a Bachelor of whatever in property" and get in on this property boom. So they do just that - and you can see real evidence of this - particularly at the postgrad level, of all these property courses popping up.

Supply often creates its own demand and I suspect there are hundreds if not thousands of people now enrolled in these courses.

Not saying everyone of them wants to be a valuer, but the current shortage of would be valuers could well become a glut - particularly if the property market stays cool for a long period of time.

Just a word of caution, is all....

M

 

[Els]

Best to check out this site as to what courses is actually endorsed by the API ( Australia Property Institute ) : http://www.api.org.au/DataPage.aspx?LinkName=2&Menu_ID=5&division=8&sm=5_2

Some companies do require their employees be to a member of API. Anyway it might be something you might want to keep in mind when looking at courses which the API doesn't endorsed....