Dubai: Professional property valuation firm Western Valuers and Surveyors has been officially recognized as a regulated and accredited firm by the Royal Institution of Chartered Surveyors (RICS), an international body that sets globally accepted standards for property valuation. Under the leadership of Director Ibrahim Emad, Western Valuers continues to play a critical role in providing reliable, accurate, and transparent property valuations in the UAE, thereby supporting economic stability across the region, a media release said.
Western Valuers adheres to the highest industry standards, as one of the few firms in the UAE to receive RICS recognition, according to the release.
"Hiring a RICS valuer ensures that you receive a reliable, impartial, and professionally conducted valuation that meets the highest industry standards," says Emad. The firm's designation as an RICS-regulated entity reflects its commitment to upholding stringent standards, transparency, and accountability in property valuation processes.
Challenges for Real Estate Evaluators
Emad believes that property valuers carry a tremendous amount of responsibility. Addressing a property’s true value not only bears significance in the real estate market but could have a strong influence over a nation’s economy, he says.
“Valuers hold a vital and responsible position, acting as the bridge between clients, financial institutions, and property owners,” he said.
Reputable valuers bring a great deal of knowledge to the table, allowing them to give accurate property valuations to their clients, says the company. Accurate, fair, and honest valuations are typically attained by utilizing this knowledge and a level of technological expertise. Valuers must also have the capacity to peruse large quantities of data, perform thorough investigations, execute rigorous inspections, and conduct extensive research, it added.
Valuers vs Real Estate Agents
While real estate agents help execute real estate transactions, said professionals do not carry out the same functions as valuers. The valuations provided by real estate agents are more likely to be appraisals. These appraisals only provide estimated figures based on knowledge of a specific location and recent sale prices in said area.
RICS valuers assess property values by employing more pertinent data. Moreover, chartered property surveyors not only conduct valuations but write reports, clearly documenting how their conclusions were reached.
Looking ahead
As Western Valuers continues to expand its presence in the UAE, the firm remains dedicated to providing high-quality property valuations that meet international standards, says Emad. "Our mission is to maintain the integrity and reliability of property valuations across the region, supporting both individual property owners and the overall economy," he added.
