THE ROLE OF EDUCATION FOR THE VALUATION PROFESSIONAL

Property valuers are specialists who undertake an important role in the Built Environment. Their role can include determination of rent reviews, valuation of properties, portfolio reviews for investment properties, valuations for estate matters and property ownership valuations. Mandated education is a pre-requisite for the licensing of valuers, and with added restrictions depending on whether the level of qualification held is an Advance Diploma, or an Undergraduate degree – both qualifications requiring a major in Valuation subjects. This paper is to clarify the educational aspects placed upon valuers where mainstream tertiary pedagogy was initially considered adequate; however, in later years the requirements changed to an undergraduate degree qualification. Therefore, the curriculum design for mainstream valuation courses is analysed and compared between the vocational sector and universities. It is arguable whether it is the teachings of the epistemology of valuation, or the assessment methodologies which steer the property industry to nominate the undergraduate degree for full valuation recognition and licensing.