Registered Valuer, Licensed Valuer, Land Valuer, Property Valuer. The ABC

Uncovering the Valuation Maze: The ABCs of Registered Valuer, Licensed Valuer, Land Valuer, and Property Valuer

When it comes to valuing properties, the terminology used can often be confusing. There are various types of phrases used to describe valuers. These terms may be confusing to the public. But what is the difference? In this article, we will break down the differences in the various terminology between a Registered Valuer, Licensed Valuer, Land Valuer, and Property Valuer, to help you understand their meanings.

Registered Valuer

A Registered Valuer refers to a professional who is registered with a recognized valuation institute or authority. They have completed the necessary education and training, and meet specific standards set by the organization they are registered with. Registration in Kenya is undertaken by the Valuers Registration Board (VRB). Once registered, the valuer is issued with a registration certificate and a membership number.

Requirements for registration

• Minimum Bachelor’s degree in real estate, land economics
• Accredited membership with a professional organization (ISK) full membership
• Work experience – Minimum of three years of practical experience in valuation

Licensed Valuer

A Licensed Valuer, on the other hand, refers to a valuer who holds a valid license issued by a regulatory body or government authority. In Kenya, Valuers Registration Board (VRB) is the Licensing Body. Before licensing, the valuers must be registered with VRB after having met the required educational qualifications, experience, and competency criteria set by the licensing authority.

A license is issued annually. Also known as a practising certificate.

Land Valuer

A Land Valuer specializes in valuing land and its associated assets. They possess expertise in identifying and assessing the market value of land and undeveloped properties. Land Valuers are knowledgeable about planning regulations, zoning laws, and site conditions that impact land values.

How to choose your Land Valuer:

• Look for a valuer with specific experience and expertise in land valuation.
• Check if they have a thorough understanding of local planning regulations and zoning laws.
• Consider their track record in dealing with similar types of land and properties.

Property Valuer

A Property Valuer is a general term that encompasses valuers who specialize in valuing different types of properties, including residential, commercial, industrial, and agricultural properties. They have a broad understanding of the property market and apply their knowledge to provide accurate valuations.

How to choose your Property Valuer:

• Consider the valuer’s experience in valuing the specific type of property you require.
• Evaluate their past valuations and client testimonials.
• Check if they have a comprehensive understanding of the local property market.

Registered valuer, licensed valuer, land valuer, property valuer. the abc – AVL Publication