Land and Property Valuer/ Auctioneer
What is the work like?
Land and property valuers/auctioneers estimate the market value of land, buildings and commercial property (real estate) for clients, with a view to maximising profit from its sale or rental income. Local authorities also use these valuations to help set property taxation and rating levels. Valuers are normally qualified surveyors who specialise in this particular field.
Your job as a land and property valuer would involve researching and writing detailed reports for clients about their assets. Once the client is happy with your findings, you would organise the auction sale, market it to attract potential bidders, and manage the auction process itself.
You would also carry out other work for clients, including:
- business and insurance valuations
- compensation assessments
- investment appraisals and advice.
You would need to be aware of the issues that can influence price, such as location, business potential, and legal, social and economic factors.
You may be able to specialise in dispute resolution, which could include appearing as an expert witness if a party starts formal legal proceedings to sort out a disagreement. You could also specialise in valuing and auctioning machinery if a business closes down or is sold off.
What qualifications and experience will employers look for?
You would normally need a degree or professional qualification approved by the Royal Institution for Chartered Surveyors (RICS) to become a land and property valuer.
You could choose from a range of relevant degree subjects, including:
- surveying
- economics
- law
- real estate management (valuation and management).
If you have a BTEC HNC/HND or foundation degree in surveying, you may be able to start work as a surveying technician and take further study to fully qualify. See the job profile for Surveyor (Technical).
The nature of the work means that you are likely to need a driving licence.
The Royal Institution of Chartered Surveyors (RICS) has details about valuation careers and degree course providers.
What further training and development can I do?
Professional bodies recommend that you continue to update your knowledge and skills throughout your career. You would normally do this by working towards chartered status through the Royal Institution of Chartered Surveyors' Assessment of Professional Competence (APC) scheme.
To qualify for chartered status through the RICS, you must complete the RICS Assessment of Professional Competence (APC) while you are working. You have to record a minimum of two years' experience followed by an interview by a panel of assessors.
If you are a qualified surveyor, your employer would put you through auctioneering training. The RICS website has information guides on the auctioneering process.
The Institute of Revenues, Rating and Valuation (IRRV) offers training that covers the valuation, legal and taxation aspects of this job. For more details, see the IRRV website.
The Awarding Body for the Built Environment (ABBE) has details about the NVQ in Valuation at Level 4. You could use this award for entry to Technician membership grade with the IRRV above.
Where can I go for more information?
41 Doughty StreetLondon
WC1N 2LF
Tel: 020 7831 3505
48 New North Road
Exeter
Devon
EX4 4EP
Helpline: 08000 567160
Westwood Way
Coventry
CV4 8JE
Tel: 0870 333 1600
If you would like to discuss your career options with a learning adviser, call 0800 100 900 or use our online enquiry form
Alternatively, you can visit our website at: www.direct.gov.uk/careersadvice
Related profiles...
What salary and other benefits can I expect?
- Starting salaries for newly qualified valuers are between £20,000 and £23,000.
- Experienced valuers can earn between £24,000 and £36,000 a year.
- Chartered land and property valuers can earn around £40,000 a year.
Freelance land and property valuers charge according to their experience and type of contract.
Figures are intended as a guideline only.
What are the hours and working conditions?
You would normally work 37 to 40 hours a week, although some property viewings and auctions take place on evenings and weekends to maximise interest.
Your job would be a combination of office work and fieldwork. Some auctions may be held outdoors when conditions allow. You would spend part of your time visiting sites and travelling to meet clients.
What skills and knowledge will I need?
- excellent communication and presentation skills
- good maths and IT skills
- excellent negotiating skills
- the ability to show tact and diplomacy at all times
- good organisational skills and the ability to work under pressure
- an up-to-date knowledge of relevant legislation
- a commitment to continual professional development
- the ability to prepare written evidence in connection with valuation disputes.
Language skills will be useful if you want to work for companies involved in valuing assets in Europe and further afield.
What opportunities are there?
You would find jobs with private practices such as estate agencies, auctioneers and surveying firms. Financial institutions, the civil service, local authorities and the government's Valuation Office Agency also employ valuers.
You may have opportunities to work with firms offering European cross-border valuation services, as overseas land and property markets open up. The development of international valuation standards due to increased globalisation in the market place will also lead to opportunities, if you have the right experience and technical skills.
Many jobs depend upon building up relevant experience, as well as gaining the right academic and professional qualifications. With experience, you could become a project manager, company partner or work as a consultant on a freelance basis.
You may find the following links useful for job vacancies and general reading: (links open in a new window)
RICS Recruit
LGjobs
IRRV (useful links page)
We do not accept responsibility for the content of external sites.
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