The Practical Valuation Training (PVT) program is designed to support, guide, and transition students and early-career professionals in pursuit of a career in Valuation. The learning materials will provide the necessary skills required to practice as a property Valuer.
| Section | Topics in Section | Learning Outcomes | Assessments |
|---|---|---|---|
| 1. Professional Framework | National Admissions Process – CPV and RPV Introduction to the API + Young Property Professionals Introduction to APIV Limited Liability Scheme Legal frameworks API Ethics and Rules API Complaints and Discipline | By the end of this Section learners will be able to: 1. Identify the role and function of the API, the YPP; and the APIV. 2. List the steps in: a) the National Admissions Process; and b) API's Complaints and Discipline Process. 3. Apply relevant legal, ethical, and regulatory frameworks to professional practice. | Review a working example of a CPV engaging in unethical practices and respond including: 1. Applying legal, ethical and regulatory frameworks 2. Identifying professional consequences, risks and disciplinary actions 3. Acting responsibly. |
| 2. Professional Core | Introduction to the International Valuation Standards (IVS) International Valuations Standards Residential Valuation Standing Instructions 101 Fundamentals of Risk Management Risk Management Module Introduction to Professional Standards Professional Standards Council regulations | By the end of this Section learners will be able to: 1. Evaluate and apply the relevant standards in the valuation process 2. Identify, evaluate and utilise strategies to mitigate risk in valuation and the valuation process 3. Identify and Evaluate standards that apply to the valuation profession. | Review a case study of a valuation report. Create a risk assessment and mitigation strategy report. |
| 3. Essential Skills | Communication in the Workplace Introduction to Professional Networking Negotiation and Conflict Resolution Project Management Critical Thinking Stakeholder Management | By the end of this Section learners will be able to: 1. Recognise the value and components of developing a professional brand 2. Demonstrate the key components of effective communication 3. Apply critical thinking to report writing and feedback 4. Manage time, priorities, tasks, and deadlines using appropriate technologies 5. Implement self-care strategies to achieve a healthy and happy work /life balance. | Develop, plan and present a short video presentation incorporating your learnings. |
| 4. Valuation Purpose and Instructions | Client Process Valuation instructions | By the end of this Section learners will be able to: 1. Identify the client's needs and evaluate the purpose of the valuation 2. Identify the various aspects of the contract and clearly define the terms and apply safeguards 3. Evaluate valuation instructions and identify client needs and expectations | Critically review a Written Instructions document highlighting errors or missing details. |
| 5. Undertaking a Valuation | Data Collection Financial Data Interpretation and Reporting Financial Modelling to Assist Valuation Methodologies Building Inspections Recording and Measurement Leasing Essentials Property Construction | By the end of this Section learners will be able to: 1. Utilise Financial data and Valuation data to evaluate comparable valuations and identify trends 2. Apply property inspection techniques to accurately record and measure a properties various aspects for the purposes of the valuation 3. Evaluate and apply valuation best practice for the purpose of accurately depicting the property and its intrinsic value. | Video submission of a valuation inspection, including explanations, measurements or procedures for determining the value of the property. Students will also complete a short form valuation report of the property. |
| 6. Asset Classes | High Value Residential Valuations Fundamentals of Commercial Valuations Asset Classes Module | By the end of this Section learners will be able to: 1. Identify and evaluate the process of valuation required for various asset classes 2. Apply and evaluate relevant valuation techniques and methodologies to value commercial and high value residential assets | Case Study: Contaminated Land Valuation scenario. Students to pick the most appropriate path from two options and provide a report and reasoning behind their decision. |
| 7. Insurance Assessments, Compulsory Acquisitions, Rating & Taxing | Approaches to Insurance Assessments Compulsory Acquisitions Statutory Valuations Goods & Services Tax (GST) | By the end of this Section learners will be able to: 1. Identify different approaches to insurance assessments and under what circumstances they may be applied 2. Apply the compulsory acquisition process to a case study and identify: a) The risks involved in not following the process; and b) The implications of not being successful with the acquisition 3. Correctly assign Goods and Services Tax (GST) to property transactions 4. Apply a rating and taxing valuation framework to a case study to identify the risks involved in not doing so. | Case study. Students to answer questions regarding the case study applying learnings to support their answers. |
| 8. Report Writing | Fundamentals of Report Writing | By the end of this Section learners will be able to: 1. Produce reports that comply with API and International Standards 2. Demonstrate independent critical thinking by producing cohesive, sufficiently supported, long form reports with clearly written purpose statements, error free. 3. Justify /explain all parts of their reports including: a) how their supporting evidence links to the purpose, scope and instructions of the valuation b) the suitability of the approach and methods used compared to others c) any gaps, contradictions and/or unsupported statements between instructions, processes and conclusions | Report Review Assessment. Submit three valuation reports, to be assessed by expert review panel. |
