The services of Property Valuer or Property Consultant are required for the purpose of the statutory test. In Malaysia, The Board of Valuers, Appraisers and Estate Agents is the statutory regulator of the valuation of immovable property and the valuation profession. The Property Valuer looks at each property individually, beginning with an objective inspection of the interior and exterior of the home or building, as well as driving through the surrounding neighbourhood. The Property Valuer looks for the assets, as well as the detriments, of the property. For homes, gross living space, quality of construction, location, layout, the number of bedrooms and bathrooms, the lot size, condition of the home and land, heating, landscaping, decks, fencing, recent renovations, amenities provided by the surrounding neighbourhood, are all considered by the Property Valuer.  Living space is calculated by measuring the outside of the home. It does not include such areas as the garage, porches, sheds, and so on. Basements are generally calculated separately from the living space. The contributory value of basements is determined by the local market, local regulations, if it is finished or not (and the quality of the finish), and so on.

If you are the property seller, you should point out any features, amenities or improvements of your home that are not readily discernable. Next, the Property Valuer analyses the available market data for your area and the surrounding neighbourhood, including current and historical comparable sales, current offers for comparable homes, and proposed improvements. The Property Valuer gathers data from a variety of sources, as well as his/her own personal knowledge of the local market. The Property Valuer then compares your real estate to the broader market. Each Property Valuer has his/her own process of analysing, collecting and reconciling the needed valuation data. If you get five different appraisals for your real estate, you may receive five different opinions. They should, however, all be within a similar value range, if they are completed within the same time frame and under the same conditions.

Though a valuation is not for public consumption, it may be shared with all parties concerned. For instance, a buyer has offered $350,000 for a home, but the buyer-side, commissioned valuation is only $335,000. Sharing this appraisal with the seller means that the owner can do needed improvements to bring the price up or offer the real estate to the buyer for the valuation amount. For the highest valuation possible, property sellers should have an inspection and valuation done before putting the property on the market. First, the inspection in order to make any needed repairs or renovations. Then, get the valuation to ensure you are getting the most for your property.