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Residential Property Valuation Fundamentals

This one-day course introduces the fundamental approaches to valuation, including principles and methods, as well as presenting the Red Book standards.

Date:
Fri 31 Jan 2020
Time:
09:30 AM - 05:30 PM
Venue:
RICS Hong Kong Office, Room 3707 Hopewell Centre, 183 Queen’s Road East, Wan Chai
CPD:
6 hours CPD

Early bird discount is available until 03 January 2020

From
HK$3000

Overview

Whether a property is to be sold, bought or let, the provision of residential property valuations requires the valuer to identify the correct valuation method, factors affecting value, and what forms part of the valuation process.

This includes considering basic valuation techniques and principles such as; the comparative method, capitalisation or investment method and the residual method.  It also requires an understanding of the Red Book and other valuation standards.

All these elements are covered within this course and will equip you with the fundamental knowledge required to understand how appropriate residential valuations should be carried out.

Download the training flyer

Who should attend?

This course is suitable for anyone who would like to develop and improve their residential property valuation skills.  If you are working towards your Assessment of Professional Competence (APC) then this course will provide you with valuable knowledge and skills to assist you in developing your competency in this area.

Learning outcomes

  • Assess common approaches to valuations and key property appraisal principles
  • Apply the appropriate valuation methodology in different contexts
  • Assess the approaches to analysing risk
  • Interpret clients’ requirements, valuation standards and the professional requirements of valuers
  • Identify the key market factors which influence value

Context and background to valuation practice

The role of valuation

  • Purposes for valuation
  • Role of the Valuer

An introduction to residential valuation methods

  • The Comparative method
  • Capitalisation or investment method
  • Residual method

The typical valuation processes

  • Desktop review
  • Site inspection
  • Comparable search
  • Analyse, reflect and assign value
  • Report to the client
  •  Keeping records and a database

Factors influencing value

  • Location and environmental factors
  • Type, style and quality of fittings
  • Accommodation and design
  • Condition and defects
  •  Economic influences on demand and supply
  •  Local knowledge

An overview of professional standards

  • The Red Book
  • Definitions (Market Value; Market Rent; PMV)
  • The client and responsibilities to others
  • Lender valuations
  • Conflicts of interests
  • Taking & confirming instructions
  • Investigations and inspections
  • Assumptions & special assumptions
  • Valuing with restricted information (drive-by valuations)
  • Re-type reports
  • The RICS Home Buyer Report
  • Automated valuation models (AVM’s) and using databases

Valuing new-build property

  • Mass build developments
  • Flats
  • Self-build
  • Refurbishments and renovations

Buy to Let valuations

  • Single properties and portfolios
  • The importance of MR
  •  Implications of recent case law Insurance reinstatement figures 
  •  Basics of the BCIS guide
  •  Historic buildings The importance of PII
  •  RICS requirements 
  •  Claims explained
  •  Reporting circumstances

 

Meet the trainer

Mr. Vincent Cheung FRICS Managing Director Vincorn Consulting & Appraisal Limited

Vincent is the founder and Managing Director of Vincorn Consulting and Appraisal Limited.  He has over 22 years of experience in the real estate and corporate valuation and advisory industry.

He is the fellow member of RICS, the member of HKIS, Registered Professional Surveyor (General Practice Division), the member of The Hong Kong Securities and Investment Institute, the member of The Institute of Shopping Centre Management, the council member of The Hong Kong Institute of Real Estate Administrators, the member of China Institute of Real Estate Appraisers and Agents. He is also the active commentator and columnist of various public media.

Price

For enquiries or further information, please contact Mr Peter Au, RICS Business Development Manager, on +852 2116 9719 or pau@rics.org.

  • Early bird RICS professionals
    Expires on 03 January 2020 HK$3000
  • Non-RICS professionals
    Expires on 03 January 2020 HK$3500
  • Standard RICS professionals HK$3500
  • Non-RICS professionals HK$4000
  • Visa

  • Mastercard

From
HK$3000