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Written by: Mandisa Ndlovu
A professional valuation is conducted by a qualified and registered Valuer, who is a member of the South African Council for the Property Valuers Profession (SACPVP). To conduct a valuation of the property, a Valuer will consider factors such as the location, age and condition of the property, upgrades, and other elements that could impact its value. For a fair and accurate valuation of the property, the Valuer is often employed by the property owner, bank, or another interested party.
In contrast, an Estate Agent is a qualified individual who works in the real estate sector, representing both the buyer and the seller in a property transaction. These individuals are not equipped to conduct a formal valuation but may offer an estimation of the value of the property based on recent sales in the neighbourhood.
Estate agents have an interest in the sale of the property, therefore, could give a more optimistic valuation, due to the possibility of receiving a commission. Hence, a professional valuation is generally more accurate and reliable than that of an estate agent.