The stability of the Saudi real estate market requires a strong and professional presence of the real estate valuation profession; a certified real estate valuer works to maintain price levels and provide a statement of fair values for properties that are bought and sold.
To organize this profession, the Saudi Authority of Accredited Valuers works to train and qualify each real estate valuer, raise their professional level, and grant them accreditation to practice the profession. This article will explain how to become a certified real estate valuer, his work tasks, and the most important skills required.
Who is a real estate valuer?
A person with a high level of experience and professionalism practices the profession after obtaining a license from the Saudi Authority for Accredited Valuers.
He must be characterized by many skills, as the real estate valuation profession is the most complex profession that requires those who practice it to have a high level of communication skills such as writing, active listening to the client, and mastering the mathematical skills that enable him to evaluate real estate in various methods of determining the value.
He must know the legal regulations related to real estate, property transfer, mortgages, and other laws related to the field. He should also be proficient in using technology to use Microsoft Microsoft programs and software systems that support the real estate valuation profession.
How to be an Accredited Real Estate Valuer?
Those who wish to work in real estate valuation must attach an application to the real estate valuation branch of the Saudi Authority for Accredited Valuers by following the following steps:
- Register in the electronic portal “QAIM”
- Passing the first level of the training course to obtain an associate membership
- Practicing the job and recording the hours of experience
- Applying for a fellowship certificate
- Obtaining a license to practice the profession
To obtain a license to practice the profession, the applicant must be:
- Saudi nationality except for employees of real estate valuation companies
- Be highly qualified
- Obtaining a fellowship degree from the Saudi Authority for Certified Valuers
- The applicant must be free of crimes against honor
What is the role of a real estate valuer?
The role played by an accredited real estate valuer is important in the accuracy and transparency of the real estate market where the valuation of the real estate is based on different purposes through professional standards that any accredited valuer must adhere to and the role of accredited valuers includes the following:
- Determining the value of the real estate: A real estate valuer determines the market value of a property based on many factors such as the condition of the property, location, and other factors
- Preparing reports: An accredited valuer prepares a comprehensive report based on various findings, analyses, and deductions about the market value of the property by the professional standards of the Saudi Association of Certified Valuers
- Applying valuation methods: An accredited valuer uses cost, income, and comparison methods to value a property
- Compliance with professional standards: An accredited valuer must adhere to international standards during the valuation.
The role of a real estate valuer in the real estate market is vital role to maintain the integrity of the real estate market and preserve rights, and we have a team of qualified valuers if you need An accredited valuer in Riyadh or across the Kingdom, we help you value your property and guide you in making the right investment decisions.
What are the job skills that an accredited valuer needs?
There are many skills that a real estate valuer must master in addition to the accreditation from the Saudi Authority for Accredited Valuers, the most important of which are:
- Professionalism:
To complete his work, the valuer must be familiar with the most important techniques and methods of real estate valuation and construction cost estimation, as well as the most important relevant real estate laws.
- Communication skills:
The real estate valuer must be able to communicate with the client and all other parties and write clear reports.
- Analysis:
One of the most important skills that a certified property valuer must have is analysis to determine the market value of the property appropriately
- Market knowledge:
Understanding economic trends and market fluctuations is one of the most important skills a property valuer should have
- Financial and accounting skills:
This includes the ability to perform financial analysis of properties such as calculating returns and operating income
What is the role of the Saudi Authority of Accredited Valuers?
The Authority plays a central role in regulating the real estate valuation profession and ensuring the quality of services provided by real estate valuers. To enhance industry expertise, it offers continuous training programs to develop valuers’ skills. Additionally, strict standards are set to protect consumers’ rights and maintain professionalism in real estate valuation.
Conclusion
You must have a passion for this field, along with excellent communication skills, extensive knowledge of legal and technical regulations, and commitment to career morals, to be successful in working as an accredited real estate valuer who contributes to the development of the Saudi real estate market. If you need an accredited real estate valuer, do not hesitate to contact Aain, one of the leading real estate valuation companies with a large team of experienced accredited valuers to make better decisions.