NZIV Member Update #7 -   

Following Government Advice

3 April 2020

Dear Member of the New Zealand Institute of Valuers,

It appears certain intermediaries that instruct Valuers to undertake valuation assignments on behalf of other parties are suggesting Valuers undertake inspections of property, or attempting to gauge the level of inspection a Valuer is prepared to undertake.

This is in contradiction to the current advice provided in writing to the New Zealand Institute of Valuers by the Ministry of Business, Innovation and Employment (MBIE).

Until Valuers are deemed to be an Essential Service by MBIE, NO PHYSICAL inspections of any type should be undertaken by Valuers. It does not matter if this is a full inspection or a kerb side.

NZIV are continuing to communicate with MBIE about “Non-Essential” status.

What this means is that Valuers, like every other Government prescribed 'Non-Essential' service, are in lock-down and must stay at home.

If any other investigations are undertaken to complete a valuation during the lock-down, and while Valuers are deemed “Non-Essential” without physical inspection, that is a contractual arrangement between the Valuer and the client. However, we advise Valuers to be aware and fully understand that Valuers must comply with IVS 20.1 – 20.7 and the Code of Ethics 1.4, 1.5 and 1.7 (c) and (d). Valuers should also have clarity of their insurance position.

NZIV Council will continue to keep Members informed and provide any further guidance as it comes to hand, including a response to FAQ’s.

In the meantime, you can find previous updates HERE .

New Zealand Institute of Valuers Council