Valuation charges

Press, Volume CXV, Issue 33963, 2 October 1975, Page 14

Valuation charges

Sir, — With much public discussion recently about the charges of professional groups it is perhaps time to query the charges of another group. At my request a valuer travelled a mile to my residence. He ran a tape over it, made a brief cursory inspection, asked the area of the section, and departed in less than 20 minutes. With his valuation report which obviously required only a brief calculation, was an account for $44 qualified with the words approved charge by the institute of valuers. I do not know how many years of study or how many exams it takes to become a valuer, but I am sure it is a long way short of the time and study necessary to become a doctor, lawyer, dentist etc. Yet with a tape measure and a pencil this man was earning at the rate of $132 an hour.—Yours, etc., DAYLIGHT ROBBERY. September 25, 1975. [Mr J. B. Veale, chairman, Canterbury-Westland branch, New Zealand Institute of Valuers, replies: “A valuer completes a five-year course of study either through correspondence or Auckland University. Three years’ practical experience before becoming registered is also required. A field inspection is only the initial stages of a valuation. Analysis of comparable sales and subsequent investigations, as well as other relevant factors must be taken into account before arriving at a final valuation and preparation of a report. If the writer is prepared to forward his name to the secretary, Mr G. E. Whale, he would be only too pleased to discuss it with him.”]