Outsourcing Of Property Valuation Tasks – Is It Good

Mortgage-ProcessingHowever, before contemplating a decision to outsource valuation, there are quite a few important points that must be kept in mind. First and foremost, such a decision must be within the ambits of the local government rules and regulations. It should not deprive the locals of their right to job and livelihood. Secondly, the decisions to outsource valuation related jobs must have a clear commercial and economic advantage. It must result in reduction of tariffs for the customers without which such an outsourcing decision might prove unworthy. Last but not the least identifying the right partners in other countries is also very important.

Language also plays a very important role when it comes to outsourcing valuation related tasks. Not all countries have English people population and hence this point must be taken into account before moving further. There are a few developing countries like India, South Africa,  Philippines and other such countries where there is availability of cheap labor who are alsoefficient and educated.

Before outsourcing the valuation tasks, a decision must be taken whether to outsource the entire work or a part of it. It is always preferable to outsource a small part of the entire process. The parts that are being outsourced should be repetitive in nature where a structured work process should be enough without too much application of mind. Only when a reasonable level of comfort has been reached should one try to go in for full scale outsourcing.

Further, it is also very important to understand the local rules and regulations pertaining to outsourcing. It must be also done only with the active participation and cooperation of local partners. It should never be done alone and in fact many countries do not allow such 100% foreign direct investment in valuation related matters. At the end of the day, the entire objective of such outsourcing must be to offer better services and better rates to the customers.

Foreign Outsourcing Of Valuation Works

a-outsourced-2-620-x-350Hence there is no element of surprise when there is talk of outsourcing a major part of valuation related works to third party service providers and that too in some foreign countries. This is just in the drawing boards today with most of the valuation companies and needs further study to find out whether it is workable or not. However, there are some evident benefits when a part of the valuation work it outsourced to low cost economies like South Africa, India, Philippines to just name a few. But this has to be thought through completely and the pros and cons must be analyzed very thoroughly.

Coming to some advantages that are evident when a part of the valuation processes are outsourced, there is no doubt that it will work out much cheaper when compared to what is being offered now. This is because of cheaper labor costs in these countries. When the end product becomes cheaper the benefits are available to customers and hence there will a lot of value addition to them.

But when going to a foreign country with a proposal to outsource a part of the valuation job, care has to be taken on many fronts. As a company you should not be infringing on the labor rights of your own country. Secondly, the country to which you are planning to move such outsourcing processes must have a well defined and well developed justice and other delivery mechanisms failing which things could become quite tough. Further, it is always better to enter into foreign markets with a partner though a few countries allow the foreigners to directly enter into this line of business. There is no doubt that there are a number of benefits available by such outsourcing but the problems and challenges that lie in the way must be suitably remedied. It should not be done in a hurry before going through the entire due diligence process.

Why It Makes Sense To Outsource Valuation Business To Foreign Countries

sFinancialApp_paystream_dvisors_APOHowever, the market for valuers is not becoming any easier. Competition is increasing quite rapidly and customers are also becoming well informed and are keen on dealing only with those valuers who are able to offer their services at reasonable rates and also are able to offer good value for money. The cost of recruiting human resources for valuation related matters is becoming very unaffordable and therefore quite a few valuation companies are finding it beneficial to outsource a part of their valuation related jobs to other countries. This is a very new concept and it there only a handful of players who are trying this out. It would therefore be not a bad idea to find out whether this could be a good way to cut costs and also give better services to the customers.

While there is nothing wrong in principle to outsource a part or even the whole of real estate valuation jobs, the same should not be at the expense of local jobs. Valuation in Australia is not an easy job and outsourcing the entire job lock, stock and barrel may not be the right solution. This could lead to serious consequences in terms of quality and might boomerang or become extremely counter-productive. Hence, the best way forward would be to understand the entire issue thoroughly and go in for outsourcing only when it found feasible in terms of cost, quality and timely delivery of services to the customers.

Identifying the right country where such outsourcing makes economic sense is also something that has to be kept in mind. Towards this objective, there is no denying the fact that countries like India, South Africa and Philippines are a few examples that could be thought of. This is because there is a rich concentration of population who are good in English which is very important and essential. Further, it is also prudent to look for local partners if there is a decision to outsource such activities.

Is There A Need To Go International With Your Valuation Business

EmployersThere are certainly a number of advantages in going international with your valuation business. It will help you to extend your market beyond domestic frontiers. While this certainly looks juicy and worth pursuing, making it happen at the ground level is a completely different ball game altogether. It would be very difficult to start such international valuation business without a local business partner. Identifying the right partner is extremely important. There is also the need to find out more about local rules and regulations which could be significantly different from what is applicable in your country.

Further it may not be possible to for one to start a full fledged valuation business in foreign countries even if you have a business partner of your own. There are many processes that could be outsourced instead of being done in your own country. This will certainly increase the efficiency and productivity levels by quite a few notches. However, this has to be done in such a way that it does not affect the local labor laws and does not impinge in the local population to work in their own country and earn their bread.

There are quite a few steps that need to be followed when finally you decide to outsource a part of the valuation processes to other countries. You should always looks for processes that are not very labor intensive but at the same time which will help you in the final analysis to offer efficient services to your customers. Identifying such a process or number of processes takes time and calls for mapping the same with the local conditions available in the foreign country. You may have to make several trips to the country and put together the processes after discussing the same with the local partners and other local stakeholders. At the end of the day there is no doubt that such processes are viable provided it is through properly.

Does It Make Sense To Outsource A Part Of Valuation Business Across International Boundaries

boundaryDoes it really make sense to go in for such outsourcing and will it have a bearing in the job scenario within the country. These are some of the most common questions that are being asked by those who are apprehensive about the end results of such moves. While there is justification in such concerns the whole matter should be looked at from a practical point of view. Today we are living in a global environment and therefore it is quite likely that many valuation companies from other countries can set up shop here. While it is mandatory for them to hire a basic minimum number of human resources from our country, they are at liberty to have some functions done in countries where the labor is cheap.

So valuation companies belonging to our country should also wake up to this new reality and take steps to prevent such companies running amuck. This might call for outsourcing some basic functions to countries such as India, Philippines, Sri Lanka and so on where the costs are much cheaper. But it should be done after a careful evaluation of the pros and cons and should in no way infringe the local labor laws and also the labor laws in the countries where these jobs are being shifted to. Last but not the least, such outsourcing should make commercial sense and help the local companies to become more competitive as far as pricing of their services are concerned. It should never be at the cost of hampering local job creation failing which such outsourcing has no meaning to say the least. Profit alone should not be the motive for such outsourcing of valuation related jobs.

How To Expand Your Valuation Business Across International Boundaries

400px-Graph_12._–_Most_important_economic_parameters_of_SingaporeIf you are a successful real estate appraiser in Australia you would certainly know what it takes to become successful in this area of real estate business. You can leverage on your experience and expertise to set up a valuation business in a foreign country. However, it is important for you to understand the rules of the game in the country where you wish to set up shop. Further you should also be careful about choosing the right country. It would be better to start business in developed economies though competition is bound to be intense. On the other hand you could also choose some emerging economies like India and Brazil. However, you should get into these countries on your own but should have a local partner to help you out.

Having a local partner will be useful in more ways than one. He will not only know the rules of the game as far as real estate valuation is concerned but will also help your business to get started on the right note. Further, he will certainly be helpful to expand your business from one level of success to another.

If you are not able to set up a full fledge property valuation business in such countries due to various reasons, you could also look into the possibility of shipping out some part of your local work. There are many advantages because of such a decision. You could be saving on high cost of local labor. However, when you decide to shift such mundane jobs to such emerging economies you should be careful that you are not flouting the local labor laws in your country. Such flight of labor to cheaper destinations should not be at the cost of local jobs and employment opportunities.

It is possible to work out a mutually agreeable arrangement between the two countries whereby you could shift some jobs from such emerging economies and move it to your own country. In the same way if there are some mundane and not-so-skilled jobs pertaining to real estate appraisal the same could be shifted to these emerging economies. It should be an arrangement that will work to your advantage and also your country’s advantage

How Lucrative Is International Property Valuation Business

doles-ash-farmhouse(1)If you are a successful real estate and property valuers in Brisbane, it is quite likely that you have achieved success in this field after a lot of hard work and commitment over the past many years. Most of the real estate companies and individuals who have achieved reasonably high levels of success would have done so by growing their business consistently and persistently. Based on their expertise and experience, they would be willing to establish valuation companies outside Australia if the situation so warrants and if it felt necessary and conducive.

In fact such a plan is indeed welcome and many foreign countries are on the lookout for expertise in this field from foreign players. When we talk about such countries it would always be better to target the new emerging economies rather than go in for the rich and affluent countries in Europe, USA and the Gulf. This is because doing business in these countries could be a tough and costly proposition. On the other hand if you target these emerging economies it certainly will go a long way in helping such companies to expand their business successfully here. The demand for quality property valuers who use the best of tools, methods and techniques are always welcome in countries like Russia, South Africa, Brazil and India.

While this indeed sounds very interesting and lucrative, as a real estate valuer who has seen success in  Australia, you should try and understand the business and legal systems in these countries before getting  into the act. Further it is always better to be associated or collaborate with a local investor so that you are able to have someone trustworthy when doing business in their new and unknown countries. Further,  apart from doing fresh business in these countries, you could also look into the possibility of moving over some processes and functions to these emerging economies where labor costs are cheap. However, here again you should not do anything drastic that might affect business interests and employment avenues I your own country.

Does It Make Sense To Outsource Certain Processes Of Your Valuation Business

Services-Value-WebIf you wish to grow any business to the next higher level of success it is very important for you to become as competitive and productive as possible. Today’s customers, including those who are looking for property valuers, are always looking for service providers who are ready to provide them with good value for money. Hence the need to be competitive and increase productivity is no longer a lip service but a dire necessity. One of the ways by which you can become competitive is by cutting down costs of your property valuations. Amongst the various methods that are being thought of, outsourcing certain data capturing and data population tasks to overseas economies is being considered by many valuers. Does it really work and will it really make sense? It would be interesting to learn more about it over the next few lines.

Yes certainly the cost of labor in emerging economies like India, Brazil and South Africa is quite low when compared to ours. If we take the trouble of closely examining the various data crunching and data populating processes there may be some justice in the plans to move these functions outside the country. But we need to look at the whole thing in totality rather than looking at in piece meal. While it could be helpful in becoming competitive to some extent, it might cause problems as far as quality of the end product and timely deliveries are concerned.

It is therefore important to look at it from a holistic point of view rather than compartmentalizing it. A better option perhaps would be to explore starting your own property valuation business in these emerging economies because of the sheer volumes that they can offer. For example if you are able to tie up with a local real estate valuer in India, you could perhaps look at a market that is humungous in size to say the least. However, here again you need to tread carefully and evaluate the various pros and cons before moving forward. best double stroller best double stroller

Advantages Of Being A Property Valuer Who Can Add Value Across National Boundaries

7996408Valuation of property is a must whether it is in Australia or any other country of the world. There is no doubt that it is considered as one of the most important and pivotal tasks whenever a decision is made to buy, sell or transfer the ownership of a property from one entity to another. As is the case with Australia, there is also a huge market for real estate valuers in many other parts of the world, both in the developed world and also in the emerging economies like India,  Brazil, Russ and Brazil.

Hence it would not be a bad idea for these local valuers to try and expand their business outside their own country for a variety of reasons. First and foremost, it certainly goes a long way in expanding their business and not being dependent on the Australian real estate market alone. While there is nothing wrong the Australian real estate market now, competition is increasing in all areas including real estate appraisal and valuation. Hence, it would be better to spread the risk far and wide and towards this objective it would not be a bad idea to move beyond local and national boundaries.

While the rules pertaining to the approach towards valuing properties might be different in foreign countries the main objective will be the same everywhere. The main objective as most of us would be aware it to ensure that both the buyers and sellers have a reasonably good idea about the accuracy and authenticity of the fair value of the property that is under question. Further, when you are ready to expand and do business in these countries, over a period of time you might be in a position to outsource a number of mundane and repeated activities to these countries. The labor in these countries is much cheaper and therefore as a real estate valuation company you will be able to become more cost effective and competitive.

However, expanding your real estate valuation overseas is not very easy and needs a lot of planning and careful approach. It is very important to have a clear idea about the business scenario in these countries, the judicial system, the political system and the stability that is offered to foreign business houses who wish to set up shop here.