Frequently Asked Questions

“In the United States of America, the term “appraiser”, as opposed to valuer, is used to describe a professional who values fixed property. In South Africa, the terms “appraiser” and “valuer” have been incorrectly used to define the same profession. An “appraiser” is usually instructed in terms of the Administration of Estates Act, No. 66 of 1965, to perform an appraisal for the Master of the High Court and does not require any qualification. They are not required to be registered with the SACPVP as a Property Valuer and are therefore not allowed to perform conventional valuations. Registered Valuers are however allowed to perform appraisals (also commonly wrongly referred to as “sworn valuations”). The property valuer’s profession is regulated by the SA Council for the Property Valuers Profession (SACPVP), which is a statutory body.

All persons undertaking property valuations must be registered with the SACPVP and conduct business according to the Act as well as the rules and regulations of the SACPVP. Valuers need to have obtained the necessary qualifications and gained sufficient experience in the various valuation fields of real estate i.e. residential, commercial and industrial, retail, leisure, agricultural and any other form of specialised property. In addition, valuers are guided by accepted International Valuation Standards. The SAIV (South African Institute of Valuers) has adapted and published these standards as the South African Valuation Standards. All property valuations must conform to these standards. Should a dispute arise from a valuation report, the valuer must be able to defend the report in a court of law. In this way, the public is protected against unscrupulous or unqualified valuers.”
Source: General Secretary, South African Institute of Valuers.

In today’s economic environment, values are likely to fluctuate substantially. Historic costs and book value often become meaningless after a few years.

Knowledge of asset values supports good corporate governance and assists directors, shareholders and auditors.

After the first valuation, we recommend three yearly updates. We are always available to help with trends, indices and general advice between cycles.

We recognise the time limitations available to administrative, financial and technical staff. We prepare programmes that enable efficient and expeditious inter-relationship between the valuer and client. Generally, our clients are surprised at how quickly and smoothly the process proceeds.

The valuation process comprises three stages: site inspection, research and valuation report preparation. Inevitably, doing the job properly can take a little time. Our quotation will set out when we can complete the valuation. We can usually accommodate your needs but will tell you up-front if we cannot. Be careful when using a valuer who says he will give you an answer in a day or two. That answer may not be worth the paper it is written on.

We are based in Johannesburg but yes we do! We regularly have valuers on site all over the country. Because of this, we are often able to carry out a valuation in, say, Nelspruit or Cape Town without you incurring any of our travel costs.

But South Africa is not our only area of activity. In the last couple of years, we have completed significant single and portfolio valuations in Swaziland, Angola, Botswana, Lesotho, Mozambique, Zambia, Uganda, Tanzania, Namibia, Argentina, Nigeria, Ghana and Rwanda. Incidentally, our professional indemnity insurance covers all those areas.

This is a very important issue. All our valuers are registered with the S.A. Council for Property Valuers Profession and are members of the SA Institute of Valuers. In addition, we are all qualified professional members of the highly regarded international valuation body, Royal Institution of Chartered Surveyors (RICS).

However, if you believe that we have not acted professionally or undertaken the exercise for you with the appropriate degree of care and skill and we are unable to put your mind at rest after you have discussed the issue with us, you are entitled to lodge a complaint with the following bodies:

• South African Council for Property Valuers Profession www.sacpvp.co.za
• South African Institute of Valuers www.saiv.org.za

The above are the South African organisations but you may also wish to lodge a complaint with the RICS which can be done by going to www.rics.org/complaints. If you believe that you have been financially compromised you are entitled to contact us and advise that you wish to lodge a claim against our professional indemnity insurance; or, alternatively, you may approach our insurers directly. We will provide you with the insurer’s contact details.

Many of our competitors do not carry professional indemnity insurance. Your options for financial compensation are then virtually non-existent. Always request full details and copies of a valuer’s insurance when he quotes you to undertake a job or before you instruct him. Insist on insurance proof. Do not let the valuer put you off. If he does not have it, do not use him. He clearly does not have your best interests at heart.