The API is pleased to publish another of our standards series articles which are designed to provide plain English explanations of individual API Rules, specifics topics or reminders about principles and concepts. 

The API provides the following to outline and clarify what valuation services provided by API Valuers are.  We encourage, and permit, Valuers to use the Standards Article, and the concepts contained therein, to promote themselves as independent, objective, unbiased, ethical and competent professionals in relation to the provision of valuation services.

Valuation services are professional services provided by a Valuer which include their opinion, estimate or confirmation as to the value and/or rent for the asset(s) that is the subject of the professional service. 

Valuation services of tangible assets, such as interests in real property and plant, machinery & equipment, include “valuations” involving a personal physical inspection of the asset by the Valuer, and “desktops” where the Valuer’s opinion, estimate or confirmation of value and/or rent, is provided without the benefit of a personal physical inspection of the asset by the Valuer. 

This new Standards Article addresses 

  • what Valuation Services are 
  • what is a Valuer 
  • the difference between Valuations and Desktops, and 
  • a glossary of definitions 

Read the full Standards Article 

 

If there are any comments or feedback regarding this Standards Article, please contact us at [email protected]. 

The API is committed to the promotion of best practice within the property and valuation profession and welcomes feedback to help this goal be achieved.