Is there something going on in the world / profession of valuers that I don't know about?
My concern is the huge variations given by valuers on the same property - in one case I know, from contract price of $360K (Jan 2002) to $470K, and it's causing real havoc all round.
Presumably they all study pretty much the same course content for their diplomas (a two year course???).
Presumably they all use the same criteria.
Presumably they all look for comparative prices in similar properties in the area (which must appear on the valuation report?).
Presumably they all work to the same industry guidelines.
Presumably they all adhere to the industry standards (monitored by the Australian Property Institute??)....
... so their ships should therefore (presumably) all be sailing in the same direction?
So why such huge differences? How exactly do valuers work? Why are the contents of valuation reports deemed to be so secret? What do they have to hide?
I'm confused.
SG
My concern is the huge variations given by valuers on the same property - in one case I know, from contract price of $360K (Jan 2002) to $470K, and it's causing real havoc all round.
Presumably they all study pretty much the same course content for their diplomas (a two year course???).
Presumably they all use the same criteria.
Presumably they all look for comparative prices in similar properties in the area (which must appear on the valuation report?).
Presumably they all work to the same industry guidelines.
Presumably they all adhere to the industry standards (monitored by the Australian Property Institute??)....
... so their ships should therefore (presumably) all be sailing in the same direction?
So why such huge differences? How exactly do valuers work? Why are the contents of valuation reports deemed to be so secret? What do they have to hide?
I'm confused.
SG