What is the difference between a Valuer and a Real Estate Agent?
A Certified Practising Valuer (CPV) is an accredited valuer/members of the API and generally will not sell, buy or manage property. He/She will have undertaken extensive tertiary education studies and training in this field. Real Estate Agents generally in comparison will have not have valuation training and be more focused in the discipline of selling and/or managing property.
Generally, a CPV when preparing a Valuation file will obtain a copy of land titles and formal registered site plan, and research all registered instruments on title. The CPV will also research any leases, zoning and other statutory planning restrictions to identify the highest and best use allowable for a property.
It is also incumbent on a CPV to undertake a thorough inspection, check that the physical property adequately matches the registered title, measure buildings and note all issues which could affect value.
The above processes are fundamental to a CPV’s assessment but generally the bulk of time and resource spent in a Valuation business goes into comparable market research and analysis of sales and leases.
This involves data storage, transaction research, correction and collation of records, financial analysis and coding to enable identification of appropriate comparable market evidence for Valuations.
In short, a CPV is in the profession of providing independent advice to assist a client make the best financial decisions whereas a Real Estate Agent is in the business of gaining listings, closing deals and/or managing leases and tenancies.