Getting the Best out of: Valuers – understanding valuation bases and methods

Overview

This course explains how valuers reach their opinion, and sheds light on the strengths and weaknesses of valuation reports. It highlights how Development staff can challenge valuers reports to ensure they get the best advice. Often an overlooked area, valuation can be a significant stumbling block to a successful negotiation, or can inadvertently lead the Association to pay more than is appropriate. Understanding this topic is essential to effective and efficient land procurement.

Target Audience

This course is suitable for Development and Regeneration staff  within Registered Providers and others with responsibility for buying land or buildings.

Entry or Pre-course Requirements

This course is designed to follow on from Getting the best from: the Consultant Team. It is preferable, although not essential, that delegates should either have attended that course or have an equivalent level of knowledge of briefing and managing consultants.

It is helpful if delegates have a good understanding of professional project management tools and techniques, such as provided by Introductory Certificate in Project Management.

Recommended Reading

Delegates should read recent valuation reports (including appendices) from at least two different valuers that give an opinion on Market Value of land or buildings that the Association is negotiating to purchase  before the course. Differences in the approach, extent of information provided etc should be noted.

Related Courses

Getting the best out of: The Consultant Team

Introductory Certificate in Project Management

Project Financial Evaluation

Intermediate Development / The Planning Regime

Course Plan

This course covers the following subject areas:

• Welcome
• Sources of property-related data
• Types of financial models
• Valuation: definition and key concepts
• Valuation bases: market value, existing use value, investment value, etc.
• Valuation methods: comparative, residual, investments, profits & cost
• Discounted cash flows
• RICS advice on valuing land for affordable housing.
• Finish