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 Residential Property Valuer.
| Section | Topics in Section | Learning Outcomes | Assessments |
|---|---|---|---|
| 1. Professional Framework | National Admissions Process – CPV and RPV Introduction to the API and 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 RPV 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 | International Valuations Standards Residential Valuation Standing Instructions 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 Residential 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 instructions and utilise techniques to provide set clear expectations and outcomes of the valuation. 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 Property Inspections Recording and Measurement | 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 Residential 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. Regulatory and Legal Valuations | Approaches to Insurance Assessments Compulsory Acquisitions Goods and 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 compulsory acquisition processes and protocols and identify the risks and consequences of not doing so. 3. Correctly assign Goods and Services Tax (GST) to property transactions. 4. Recognise the key differences between statutory valuations and other valuations. | Case Study: Residential evaluation |
| 7. 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, 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. | Assessment of three Residential valuation reports by a panel of experts. |
