Commercial Property Valuers
A short blog on commercial property valuers like ourselves
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.
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.
This is a basic route of valuation process.