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How to choose a property valuer

Writer's picture: Tristan Doger de SpevilleTristan Doger de Speville


What to look for


1) Make sure the valuer is qualified and chartered. RICS is the most recognised accreditation in Mauritius.

Choosing a chartered valuer reassures you that they are appropriately qualified and have passed all the tests required to provide the highest standard of services. Unlike unqualified valuers, an RICS chartered valuer ensures that the most appropriate valuation method is used and will consider multiple methods when drawing a conclusion. Chartered valuers also have access to crucial market data, which forms the core of any estimation.


2) Review the valuer and the company profile.

Always investigate the company’s experience in their field, previous clients and ask for samples of their reports. Much of this information should be readily available on their websites, LinkedIn pages and should be made available in more depth on request. These sources should give you a good snapshot of the quality of services you can expect from the service provider.


3) Ensure the valuer is well established in the country and has sufficient knowledge of the local market.

While it may sound obvious for Mauritius, doing a good valuation is highly dependent on the experience one has in the area they work. By choosing a local chartered valuer, you ensure that they know where to find critical information, how to justify their conclusions, whom to contact to find more information, how the market is behaving, and how to avoid mistakes due to the intricacies of the Mauritian market. There is an abundance of legitimate market data in Mauritius, but the challenge is knowing where and how to find it. Only a qualified valuer who knows the ins and outs of the Mauritian system will know how to find data efficiently. In addition, Mauritius is a highly versatile market where each area and project have unique features.


4) Make sure the valuer or the company has professional indemnity.

When reports are properly made and justified, issues are rare. Nevertheless, it is essential to ensure that your service provider has Professional Indemnity (PI) insurance in case of any complications. This will give you the peace of mind that the company will take responsibility in case of any happenings.


5) Ask for samples and questions about the process.

If you are still unsure of the quality of service you will receive after visiting the company’s website and social media accounts, feel free to ask for a sample of a valuation report similar to the one you need. You can also call and ask about their processes in providing the service. These interactions should reassure you that the valuer will address all the information required and consider all matters before concluding the report.


6) Never choose a service provider based on fees.

While this point may seem biased, you should ensure that the fees asked are representative of the service required. Good valuations are time-consuming to provide as a valuer has to do, among other things: a proper site visit, collect data from many sources, reach out to contacts if more is required, analyse data and gather all of the above into a clear and logical report that meets a good standard.


While some may charge low fees, they will have to trade off somewhere in the process to cover their costs. The riskiest trade-off would be skipping the research aspect of the reporting process. Research is time consuming, and the valuer may not be able to spend the necessary time collecting the latest evidence. Skipping research is dangerous as the report may be based on outdated information that exposes the client to over or under-valuation. Both of these outcomes are undesirable. An under-valuation could lead the client to sell for less than the asset’s worth, leading to a financial loss and potentially, an assessment by the government. An over-valuation could give the client a false impression of the asset’s value, leading them to hold an asset for longer than desired.


We recently had a client reject our proposal because he had an offer at half the price. The client sold his property for the value given and ended up selling for 2.5 million below the market value. Because his fees were low, the valuer provided a quick report based on outdated evidence. Not only could the client have sold for more, but he was assessed by the government and ended up paying penalties. In the end, trying to save a few thousand rupees cost the client millions more.



The site visit


7) Make sure the valuer asks for the important data about the property

A valuer should ask for all data available from the client. This information can include, at the minimum, a simple title deed or a more in-depth cash flow and tenancy schedule. The amount of data required is dependent on the type of asset concerned and on the purpose of the valuation.


8) Ensure the valuer asks questions about the improvements, improvements’ features, renovations, additions, issues with noise or leakages, such as accesses, rentals, related fees, the portion of land, its potential limitations, and more.

These critical pieces of information allow the valuer to tailor their assessment to your property and all its features. This process confirms that all positive and negative aspects of the asset are being considered and weighed against the evidence to provide a justifiable conclusion.


9) Make sure the valuer asks for and understands the reason and purpose of the valuation

The valuer needs to understand the bigger picture and the reason you need a valuation. This process allows the valuer to ask for the appropriate information and use the most relevant valuation method(s). The possible users of the report should also be considered to avoid conflicts of interest.


10) Make sure the valuer uses proper measurement methods

Another critical element that the valuer needs for a good valuation is the floor area of any improvements. There are various types of floor areas that need measuring, depending on the asset type and the market they work in. In Mauritius, due to the available information and valuation methods, a valuer should generally:

  • Measure from the external faces of the structures for a house and industrial buildings, differentiating for various elements.

  • Get the net area from title deed or ‘EDD’ for residential units, commercial units, offices, duplexes and villas forming part of a schemed project

  • For land, the measurement should come from a survey plan or title deed.

However, keep in mind that this list is not exhaustive.


11) Make sure the valuer takes pictures and inspects the entire property.

Pictures are important as they help understand and visualise the description of the improvements for any user of the valuation.

In-depth inspections are essential to assess all positive and negative features of the property, including matters like the quality of finishes, the layout, the quality of the services, the accessibility of the general property, the number of renovations required, if any, and more.



The reporting


12) Make sure the report is clear, understandable and not misleading

The most important aspect of reporting is that the user should fully understand how the conclusion was drawn . We can only achieve this goal through transparency and clear explanations of the data used during the valuation process.


13) Make sure the report contains all the critical information used to justify its conclusion

Among other things, you should look for the presence of the latest evidence, justification of the adjustments made, the elements considered, the valuation calculations, a reasonable explanation and understanding of the conclusion reached.


14) Make sure the valuer remains available for questions.

As a valuer, I understand how hard it is to explain the entire process in a detailed report. However, I do my best to remain available after delivery for questioning and backup as required. These may mean answering simple questions about an aspect of the report or a meeting with directors, auditors, and government assessors.


15) Make sure you feel satisfied and trust that the job was well done.

Chartered valuers have to behave in a way that provides trust in the profession. This means that they should deliver the client with satisfaction and the peace of mind that valuation was completed well and fairly. Peace of mind is achieved through good communication, professional behaviour, transparency and clear reporting. If you feel that something is off or unclear, you should not hesitate to question the valuer or seek a second opinion.






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