Elements of a Qualified Professional Valuer
Education:
Over several decades the valuation profession has developed generally recognized
valuation methods and techniques, commonly known as a body of knowledge. Conformance to these generally recognized methods and techniques promotes consistency in the work product of valuers.
Experience:
A professional valuer will have significant experience in applying the generally recognized valuation methods and techniques learned in the classroom to the marketplace.
Examination:
A professional valuer has been tested to ensure a thorough understanding of the subject matter and competency.
Continuing Education:
A professional valuer continues to take educational offerings on a periodic basis to ensure awareness of changes in valuation methods and techniques, technology and the marketplace.
Adherence to a Written Set of Ethical and Performance Standards:
Following an established code of conduct focusing on conduct and ethics, is a cornerstone for a professional valuer.
Elements of a Professional Appraisal
Impartiality and Objectivity:
A professional valuer must be independent, impartial, and objective. A professional valuer’s opinion of value must not be biased.
Ethical Conduct:
A professional valuer will adhere to a generally recognized code of ethical conduct.
Confidentiality:
A professional valuer will treat confidential information as such. When in doubt, the valuer will always check with the client to determine what is or is not confidential information.
Competency:
A professional valuer should have knowledge and experience in performing similar assignments.
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