Intro to commercial property valuers

Across the world and here in the West Midlands, commercial property valuers play a huge role in the stability and strength of the commercial property sector. As agents and valuers, Shepherd Commercial dedicates our entire professional life to providing A1 service to our clients and the sector, so we’re here to deliver key information about commercial property valuers.

Definition

A commercial property valuer is a company or individual whose job is to estimate the value of a commercial property such as retail, office and industrial units.

What do commercial property valuers do?

Commercial property valuers will use a combination of experience, analytics, knowledge and figures to assist them in the act of valuing property. The methods used a different to residential and area knowledge plays a huge part in correctly valuing a commercial asset.

Asking plenty of questions and informing themselves on key figures in regards to your commercial property, valuers will begin by finding out the main points about your property, for example: address, size, age, style of construction and condition. These basic points form the foundation of a valuation and similar questions will be asked to begin to grasp an idea of the property. Valuers will do their homework in the office and use informative tools and software to soak up as much info on the property. The more knowledge the better. If there is a previously file on the property in the case a client has used the firm before, the valuer will re-inform themselves on the property.

Once as much information has been obtained about the property as possible, a site inspection will follow. The valuer will visit the property (most likely with the client) and get an in person grasp of the premise. They may bring a camera or notepad and jot down key points about the property including the pros and cons of the asset. Without delving into boring detail, the valuer will use a select method of valuation and will inform you of what method is being used, appropriate to your plan of action.

A valuer will then return to office and conduct further research after the site inspection and will come to a conclusion of the value of the property. They will then provide a valuation report detailing reasons for their opinion.

Note:

This is a basic route of valuation process.

Finding a good valuer

Dependant on the area or city in which your in, there should be a range of commercial property valuers to choose from within your vicinity, especially if your in a big city. However, finding a great valuer is slightly more difficult and many clients will use a respectable firm they’ve used in the past regardless of if their commercial property is out of town or in another city.

A quick google search will provide a host of commercial valuers and we always recommend checking their website and reviews out before you go ahead with them. A 10 minute due diligence check can spare you the time and money that would be lost otherwise on a good firm as opposed to a great firm.

As commercial property valuers and everything in-between within the sector, we, Shepherd Commercial have provided valuations to our clients within Birmingham, Coventry, Solihull and the Midlands for over 17 years and we’d highly recommend checking out our socials, reviews, website and all else to see what we do.

Concluding

To finish up this mini blog, we always place our contact details at the end.

Should you wish to have a commercial property valued by one of our team, head to our contact us page or give us a call on 01564778890. We’re a trusted firm with over 17 years in the sector.