For identifying the value of the property on the basis of current market then it can easily recognized through the process of property valuations. For different type of property different services is available in the process of valuation on property. Lets take an example of the residential property. For residential property the service called house valuation is available in the process of valuation. In the same manner for different type of property different type of services can be chived by the holder from the process of valuation. So to take advantage of different services of valuation licensed and qualified expert valuer should must be hired out by the holder of the property. On the basis of requirement and depend upon the property suitable activities is to be performed by the hired valuer so that outcomes of the property valuation process can fulfill requirement of their client.
By making use of various technique in standard manner different activities can be carried out by the hired expert valuer of property. Australian standards provide guiding principle for the process of property valuation which is useful to achievement of standard results and also for maintain flexibility in the process of valuation. When the procedure of valuation do run into smooth manner then the outcomes can be achieved in speedy and in accurate manner. When the valuer make use of various principles then it is useful for avoidance of errors and the mistakes which can be responsible for the failure in the outcomes of the process.