Legislation
The legislation and regulations relating to land valuers.
- Act and Regulations
- Code of Conduct
- Maximum remuneration of land valuers
- Professional indemnity insurance and disbursements
- Estimate or capping of fees
Act and Regulations
Available from the State Law Publisher:
Code of Conduct
The Code of Conduct (PDF 110 KB) was gazetted on 23 February 2007, and became effective 23 May 2007.
Maximum remuneration of licensed valuers
Under section 25 of the Land Valuers Licensing Act 1978, the Land Valuers Licensing Board may, with the approval of the Minister, fix the maximum amounts of remuneration for the various kinds of services provided by licensed valuers. The most recent Land Valuers Licensing (Remuneration) Notice (PDF 708PK) was published on 29 June 2007.
Professional indemnity insurance and disbursements
In addition to the consultative review, the Board's attention has been drawn to a number of Land Valuers who have been charging clients, as part of their disbursement costs, a proportion of their professional indemnity insurance premium.
It is the Board's view professional indemnity insurance is not a disbursement. Consequently, any valuer who breaches the Remuneration Notice in the manner described above is at risk of disciplinary action by the Board.
Estimate or capping of fees
The Land Valuers Licensing Act 1978 allows for the provision of a Maximum Remuneration Schedule which outlines the maximum amount of fees a land valuers may charge for services. Some of these fees will be established on an hourly rate.
The Board believes it is prudent business practice for valuers to provide an estimate of, or cap, the costs where appropriate. Such an arrangement would minimise the risk of a fee-related dispute arising with the client.