The Valuers Registration Board (VRB) is a separate entity under the Valuers Act and is administered by the Minister of Land Information New Zealand. The VRB is solely responsible for the registration of valuers.
The below information relates to the registration pathway for New Zealand applicants only. Please contact the VRB directly for information if you do not fall into this category.
To become a Registered Valuer, generally speaking, you must have an approved tertiary qualification (ie. certain university Bachelor degrees.)
Following graduation, you are able to work as a valuer under the guidance of a Registered Valuer. You will be required to complete three years of full-time experience prior to applying to be Registered by the VRB.
The Valuers Act 1948 at section 19 sets out the eligibility criteria that the VRB is required to have regard to when considering any application for registration.
Prospective applicants must meet the following criteria:
- Be at least 23 years of age
- Be of good character and reputation
- Have attained a reasonable standard of professional competence, which the VRB recognises as having been obtained under the direct supervision of a registered valuer
- Hold a recognised certificate, or have passed an examination approved by the VRB
- The Board has determined that all applicants must have had not less than the equivalent of 3 years full time practical experience in the valuing of land, during the 10 years immediately prior to making an application.
For more detailed information please refer to the Registration Requirements Manual.
When making the decision whether or not to register an applicant, the VRB recognises that the applicant could immediately commence practice on their own account.
The VRB must therefore be fully satisfied that the applicant can offer to the public a service that is supported by:
- A good academic training
- Practical experience
- A responsible and professional attitude
The Registration Process
An application will not be accepted until all prerequisite qualifications such as age, qualification and the period of experience are achieved.
The Registration process generally involves the VRB making an assessment that the applicant has a reasonable standard of professional competence. Achievement of this requirement is done by examining a cross section of the applicant’s valuation work, based on the workbooks submitted and summary of work undertaken.
Applicants are expected to have completed a reasonable number of valuation reports as well as a range of valuation work over the three-year period of their experience.
Applicants must satisfy the Board that they have sufficient practical experience in a broad range of valuation competencies to justify adding their name to the Register.
These shall include a range of the following core competencies:
|Building Materials and Construction Techniques
|Leading Cases and up-to-date Case Law and its Application to Valuation
|Resource Management affecting Valuers
|Duties and Responsibilities of Valuers
|Recognised Valuation Principles, Approaches and Methods
|Valuations for Insurance Purposes
|Reporting Standards and Communication
|Property Dispute Procedures and Arbitration
|Economic Theory - Highest & Best Use
|Leases and Other Land Tenure
|Legislation, Statutes & Regulations affecting Valuers
|Financial principles including Time Value of Money (TVM) and Discounted Cash Flow
(DCF) as they affect property
|Practice Standards, both International and National, and Technical Information Papers
|Ethics, as a registered valuer
Its is advisable that you maintain a daily diary that accurately and fully records the nature and type of valuation
experience completed and claimed by the applicant. The VRB may require access to the diaries to satisfy it that applicants have validly completed the three years full time equivalent experience requirement of the Act.
Applicants should have their diaries available, as the VRB may request production of these while considering the application.
In addition to VRB's other criteria of academic and practical experience requirements and passing an examination, the VRB will make an assessment of the applicant’s competence, good character and reputation by considering personal references submitted to the VRB by the applicant’s referees.
Referees must be domiciled in New Zealand. Two of the referees must be Registered Valuers, at least one of whom must have close knowledge of the applicant’s valuation work, in a supervisory capacity, over a prolonged period.
The VRB will write to the referees nominated by the applicant and request the relevant information. References forwarded by the applicant will not be accepted.
Applicants will be tested by way of oral examination by the VRB on their valuation knowledge and experience. Applicants can expect to be examined by the VRB on current publications, case law, seminars, developments and technology relevant to valuers.
Contact The VRB
The contact address is:
VRB Registrar, Valuers Registration Board, PO Box 5501, WELLINGTON 6145
Attention: VRB Registrar / Email: firstname.lastname@example.org
Telephone: +64 4716331
No oral discussion on registration procedures may be initiated with VRB members but this does not prevent direct communication with the Registrar on matters of concern.