How to become a property valuer

If you love real estate and are looking for a secure career that provides essential services across the property, business, banking and government sectors, becoming a property valuer could be the right pathway for you.

Property valuation happens in the background of most real estate transactions. It’s also needed for loans, taxation and insurance purposes, and when dealing with larger-scale business assets such as machinery and equipment.

Because property valuers provide expert advice to formal organisations, the profession is regulated and practitioners need to study and meet other requirements to become certified. Choosing this career path involves an investment of time, funds and effort, but there are plenty of big rewards on offer.

Certified property valuers can earn six-figure incomes and gain opportunities for enjoyable, interesting and secure work in a growing industry. They have flexible options to work as employees or independent practitioners and explore specialisations. Property valuers also have an important role to play in building a sustainable future.

Sound appealing? Let’s take a closer look at what the job involves and what steps you need to take to become a property valuer in Australia.

What does a property valuer do?

Have you ever bought a home, taken out a loan, purchased house insurance or paid land tax? If the answer is yes, you will have noticed that a formal property valuation is part of the process for each of these important life moments.

Property valuers estimate the value of different types of properties and assets at particular points in time. This is usually done for transactions involving residential, commercial, industrial or rural real estate. The process can involve valuing property or land, buildings, renovations, equipment, machinery, construction faults and household items like furniture.

Property valuers provide these services for many different types of clients and organisations. These include real estate buyers and sellers, banks, finance organisations, government bodies, corporations, insurance companies, accountants and lawyers.

Property valuations are commonly needed in the following situations:

• when buying, selling or renting property
• before and after property or land development
• to process loan applications
• for insurance purposes, such as estimating the costs of rebuilding after disasters
• for property settlements such as divorces and deceased estates
• to determine property rates and taxes
• for analysis and reporting on property portfolios
• as evidence in court cases or disputes involving real estate and assets.

Because property valuers are responsible for providing expert, objective and accurate valuations, their work involves meticulous research and analysis. Common day-to-day tasks include:

• conducting detailed property inspections, such as taking measurements, photos and listing assets and risks
• studying location, property use, features and neighbourhood
• collecting and analysing relevant data such as property sales, rental rates, market trends, planning information and business data
• using specialised tools and methods for analysing and presenting information
• preparing formal valuation reports
• liaising with stakeholders.

Property valuers provide a much higher level of detail and precision than property appraisals completed by real estate agents, which are typically only used for sales purposes, such as price estimates and signing clients.

Steps to become a property valuer

Gaining certification is the first step to becoming a property valuer. This involves meeting the requirements of the Australian Property Institute (API) for membership as a Certified Practising Valuer (CPV), which includes specialised training, work experience and building a specific skillset.

The steps to achieving full certification for this in-demand career are outlined below.

Step 1: Meet the educational requirements

Completing an API-accredited qualification is the first step towards obtaining CPV certification.

Accredited postgraduate pathways, such as graduate certificates and master’s degrees in property-related disciplines, provide valuable opportunities to gain this qualification along with other essential property valuation skills. Typically, admission to these courses requires an undergraduate degree in a relevant field, such as architecture, engineering, building, law or economics. However, students with degrees in other disciplines may also qualify if they have relevant work experience.

UTS Online’s Master of Property Development offers a comprehensive, accredited pathway for those aspiring to build a career in the property sector. Alternatively, students may commence their studies with the Graduate Certificate in Property Development. This flexible entry point allows them to enhance their skills while simultaneously progressing towards higher qualifications.

This accredited master’s course from UTS Online offers the opportunity to specialise in valuation through a dedicated sub-major in Specialised Valuation. This focused pathway equips students with advanced skills in the valuation and analysis of diverse property types. Additionally, it accelerates the completion of CPV certification while providing two extra API certifications, significantly boosting career prospects for aspiring property valuers. Upon completing this sub-major, graduates will earn the following API certifications:

1. Certified Practising Valuer (CPV) – for the valuation of all property types and related assets
2. Residential Property Valuer (RPV) – specifically for the valuation of residential properties
3. Certified Property Practitioner (CPP) – encompassing a broad range of property fields, including sales, leasing, negotiation, research, education, law, consultancy and finance

The UTS Online Master of Property Development also provides other specialised pathways for those looking to explore different facets of the property industry. With options available in commercial property management, property development and urban planning, each backed by essential API certifications, you can gain targeted expertise in your chosen field. Alternatively, a general track is available, offering the flexibility to customise your studies to align with your unique interests and career aspirations.

Step 2: Obtain professional accreditations

Once you’ve completed an approved qualification and gained the required API certifications, you can move on to the next step of obtaining professional accreditation, which is essential for career advancement in this field.

The UTS Online Master of Property Development offers pathways to accreditation and membership with two leading professional bodies for property valuers: the Australian Property Institute (API) and the Royal Institution of Chartered Surveyors (RICS). The API provides national qualifications within Australia, while RICS offers both national and international accreditation, enabling practice in Australia and abroad.

Australian Property Institute (API) accreditation

Gaining API accreditation requires completing CPV certification (as above) and obtaining Associate Membership of the API. The requirements of this process include:

• education – certificates confirming an accredited degree and CPV training
• work experience – two years of property valuation experience, detailed in an experience journal and complete the API Practical Valuation Training Program
• reports – three referee reports and three sample API valuation reports
• professional interview
• paying a membership fee.

After achieving API accreditation and membership, property valuers can use the letters “AAPI CPV” after their name and can access valuation work with all major Australian financial institutions.

API membership is vitally important to the valuation profession, as it regulates compliance with codes of ethics and rules of professional conduct. These include standards that are critical to the high level of responsibility and liability in this occupation, including professional behaviour, competence, integrity, impartiality, confidentiality and avoiding conflict of interest.

Note that ongoing API membership requires paying an annual fee and completing continuing professional development. 

Royal Institution of Chartered Surveyors (RICS) accreditation

Accreditation with RICS, as a global organisation, opens up career prospects for property valuers both in Australia and internationally. RICS operates across 140 countries and offers membership to a broad range of professionals working in the development and management of land, real estate, construction and infrastructure.

RICS has two accreditation pathways for property valuers: Associate Membership (AssocRICS) and Chartered Membership (MRICS). Applicants for both membership types are assessed against a range of core and optional competencies, such as inspection, regulatory compliance, measurement and valuation.

The appropriate RICS accreditation pathway depends on your sector-specific skills, knowledge and experience. As a RICS-accredited course, UTS Online’s Master of Property Development with a sub-major in Specialised Valuation can fast-track both options.

Step 3: Build essential skills for success

To build a successful career, property valuers need to develop a range of hard and soft skills to meet the analytical and communication requirements of the profession. These include:

• expertise in market analysis and valuation – to understand market trends and  accurately evaluate properties  
• in-depth knowledge of the building, construction and planning sectors – to understand  the value impacts of building methods, permits, renovations and faults  
• mathematical and analytical skills – for data processing and calculations  
• research skills – for collecting detailed background information  
• report writing – for a clear and concise presentation of information and insights 
• communication, interpersonal and customer service skills – to collaborate effectively  with a wide range of stakeholders
• time management skills – to meet deadlines and balance multiple projects  
• negotiation skills – to operate effectively during transactions and disputes.

Honing these technical and general skills will enable you to provide valuable, data-driven insights to your clients and build a flourishing career as a property valuer.

Step 4: Explore sustainable development

Sustainability is now a major part of the agenda in the property sector, both in Australia and overseas. This is due to several key factors, including:

• the Australian Government’s Net Zero Plan to drastically reduce our greenhouse gas emissions by 2050 (alongside similar plans in other countries)
• the fact that buildings and infrastructure are responsible for around one-third of our nation’s carbon emissions and over 40 per cent of global emissions
• growing awareness of the need for climate-resilient buildings

These changes are reshaping the property and construction sector, driving updates to building standards and codes while encouraging the use of sustainable materials and technologies through various incentives.

This presents a unique opportunity for property valuers to drive sustainable practices. By integrating environmental and climate factors into property valuations, valuers can assess both the financial and ecological impacts of projects. This, in turn, helps developers make informed decisions and encourages greater investment in sustainable properties.

To meet this rising demand for sustainability experts, UTS Online’s Master of Property Development offers electives like Productive and Sustainable Property Development. This subject is designed to equip future property professionals with in-demand sustainability skills. It provides an in-depth understanding of environmental factors in construction management, urban design and property development. It can also be taken as part of the valuation sub-major, delivering a well-rounded education for those aiming to thrive in the dynamic and evolving property industry.

Career prospects and salary expectations

The property valuer profession is a rewarding, in-demand career path with many advantages, as outlined below.

Job opportunities

Australia faces a significant demand for property valuers, with a projected job growth of 12.2 per cent over the next five years. This shortage of certified professionals is attributed to rapid growth in the real estate sector, an aging workforce and an insufficient number of new graduates. The need is particularly acute in regional areas, where a scarcity of valuers and a demand for specialised skills in rural property and agribusiness are most pronounced.

Certified property valuers can access a wide range of roles across different property types, as well as in niche specialisations in areas such as commercial and litigation-related valuations and the sustainability sector. This includes opportunities in the public sector, business organisations and private practice.

Salary expectations

Experienced property valuers in Australia can earn strong six-figure salaries, with Seek reporting an average salary of $105,000 per year. Graduates can expect to start with a base salary in the range of $70,000 to $90,000 per year, depending on location, type of work and any available commissions.

Given the high demand for certified valuers, qualified and committed professionals with advanced qualifications can quickly climb the ladder into higher-earning and specialised roles or build thriving independent practices.

Industry growth

The real estate market in Australia is growing steadily, with the residential sector alone expected to reach a value of over $13 trillion by 2029. This is driven by population growth, migration, urbanisation and the ongoing housing crisis.

The expanding residential market also drives growth in commercial and industrial property, as people in residential developments ultimately need more shops, businesses, offices and services.

The demand for property valuers who provide essential services to facilitate this growth is on the rise and shows no sign of slowing down.

Take the next step with UTS Online

If you’re a future-focused professional aiming to enter the booming property industry, a career as a certified property valuer offers flexible, diverse and rewarding opportunities.

UTS Online’s Master of Property Development allows you to specialise in Specialised Valuation, equipping you with top-tier industry certification and the skills to excel across a wide range of roles.

This course offers you the unique opportunity to study with a university ranked among the world’s top 100 for architecture and built environments, while enjoying the flexibility of 100% online learning. Develop new skills and gain the confidence to achieve your goals, all on your terms.

Transform your passion for property into a profession. Speak to our Student Enrolment Advisors at 1300 477 423 to explore your study options with us and learn more about UTS Online’s Master of Property Development.