Valuation surveying: Your guide to becoming a valuation surveyor
Specialising as a valuation surveyor
As you develop your career and become a chartered valuation surveyor you will likely operate across a wide range of asset types, working in both the public and private sector. The most typical asset classes include commercial, residential and rural property.
Some valuers practice exclusively in one of these areas, while some deal with a wider variety of property and asset types. At RICS, we broadly group these as three different specialisms:
machinery and business assets
residential survey and valuation, and
valuation.
How to be a valuation surveyor
Starting at the entrant level, RICS is fully focused on taking steps to tackling barriers to entry, and promoting diversity, equity and inclusion within the valuation profession, with a particular emphasis on attracting a diverse band of new entrants to its membership.
In case a career in valuation surveying sounds like the job for you, you?ll find a range of various ways you can become a valuation surveyor. Valuation Surveyor Ash include:
University degree
Postgraduate conversion course
Apprenticeship
RICS valuation surveyor pathway
To qualify as a valuation surveyor through RICS, you?ll need to attempt your RICS valuation surveyor pathway. This can teach you a number of technical competencies to assist you in your career and can provide you with a world-renowned qualification in your chosen area of specialism.
Technical competencies include:
accounting principles
property finance and funding
valuation of businesses and intangible assets
compulsory purchase and compensation
leasing and letting
sustainability
landlord and tenant, and
loan security valuation.
The pathway for valuation surveyors includes both RICS associate (AssocRICS) level and full chartered status (MRICS). To qualify as an associate or chartered member, you will have to pass a number of assessments.
RICS associate qualification
This is actually the entry-level RICS qualification. It provides you the chance to progress your career and gain full chartered status. In order to be eligible, you will require either:
1 year of relevant experience and a relevant bachelor?s degree
2 years of relevant experience and another higher/advanced/foundation qualification, or
4 years of relevant experience (no qualifications required).
RICS chartered qualification
Most people already have surveying-related qualifications and work experience, meaning an RICS chartered qualification is the most common way to qualify. To meet the requirements you will need either:
relevant experience and an RICS-accredited degree
5 years of relevant experience and any bachelor?s degree, or
10 years of relevant experience operating at a sophisticated level by seniority, specialisation, or in academia.
For RICS members, there is the opportunity to apply for Valuer Registration: a risk monitoring and quality assurance programme that ensures all valuation surveyors meet up with the Global Standards outlined in the Red Book. Find out more about Valuer Registration and how exactly to apply here.
Essential skills for valuation surveyors
Personal skills may also be essential for a career as a valuation surveyor. You may already have many of these skills when you?ll also have the opportunity to build up them as your job progresses. The following are key skills required of valuation surveyors:
understanding of data and analytics for more complex investment valuations
fantastic numerical skills
a good knowledge of building technology for residential valuers
communication skills, both written and verbal
negotiation skills
ability to be considered a great team player and keep maintaining working relationships with colleagues and clients
good knowledge of the market
an understanding of sometimes complex ownership structure of assets or liabilities
commercial awareness, and
legal and regulatory knowledge.
Valuation surveyor salary: How much could you earn?
How much you can earn as a valuation surveyor varies widely and can be determined by several factors, together with your choice of employer, specialism and location. Your qualifications, skills and experience may also play a big factor in your potential earnings.
The average salary for a valuation surveyor is between �45,000 and �48,0001, while graduate and entry-level positions will offer a salary of around �23,000 to �30,000. Securing chartered status may take your profits to over �70,000 yearly, while the ones that qualify as RICS Fellows can earn much more depending on their experience and seniority. That is before performance-related bonuses and an automobile allowance, pension, private healthcare and life insurance coverage.