- a person who calculates the amount of materials needed for building work, and how much they will cost.
- a person whose job is to estimate the value of something that is to be purchased.
Reading the above definitions, it can be easy to see why people may get confused and think that quantity surveyors and valuers do the same thing.
Although their definitions read similarly, that is where the similarity ends, as individually they play very different but important roles.
To become a quantity surveyor, a person must complete a tertiary degree. Their studies teach them how to estimate and monitor construction costs on a project from feasibility stage through to completion based on initial designs and drawings.
Quantity surveyors work very closely with key personnel on a project, from architects through to contractors, to ensure the project remains on budget and on target using cost management reports.
Once the project is completed, the quantity surveyor can produce depreciation schedules on the items within the project and give advice on insuring the items should they need to replaced.
So, in summary, a quantity surveyor is involved in the project from concept to completion.
A valuer on the other hand generally becomes involved once the property has been fully completed and a valuation of the properties price is required.
Also requiring a tertiary degree, property valuers are called in to do valuations for a number of reasons with some examples being:
- setting an amount for the sale and purchase of properties
- setting rental levels (lease)
- providing financial reporting for asset accounting and management
- providing valuations for lending and associated financial dealings for mortgages
- providing valuations property settlements for divorces or deceased estates
A valuers role can also encompass property portfolio analysis, property rating and taxation systems and taxation assessments.
So, to summarise what a valuer does, they gather and analyse a range of property data to conclude the value of a property. In some instances, a valuer may be called on to give a valuation on works that are still in progress.
Both the quantity surveyor and the valuer have a critical role in the completion of a construction project from feasibility right through to it being finished.
Seymour Consultants specialise in quantity surveying and cost planning consultancy services to financial institutions and property developers.
We have over 25 years experience and all Seymour Consultants quantity surveyors are Members of the Australian Institute of Quantity Surveyors.
This means you can count on our high professional standards and an ethical code of conduct when you call on us for your quantity surveying needs.
For professional and accurate quantity surveying services in QLD and NSW, call the friendly team at Seymour Consultants today on 07 5573 4011.