The Economic Consequences of Homelessness in The US

formed in in 2000 to act as the voice of the property professions. There have been
'political divisions' within the valuation profession in New Zealand, expressed at AGMs
and through 'proxy wars' over the last 20 years or so. Many valuers are supportive of
amalgamation of the NZIV functions under the multi-disciplinary voluntary body PINZ,
whilst many others wish to retain a separate statutory professional body for valuers (the
NZIV). There are various reasons in the debate and the governing legislation is under
review and amendments or repeal is being considered. At present, the Act remains in
force and the NZIV is legally a distinct body with statutory functions, powers and duties.
PINZ incorporated much of the membership of the NZIV, the Institute of Plant &
Machinery Valuers (IPMV) and the Property & Land Economy Institute of New Zealand
(PLEINZ). PINZ now represents the interests of valuers, property and facilities
managers, property advisors and plant and machinery valuers. PINZ has developed into
one of the largest professional bodies for standards, qualifications and ethics across all
facets of the property profession within New Zealand. It works with government, industry
and other professional associations, education stakeholders and the media to promote
its standards and views.
In New Zealand, the terms "valuation" and "valuer" usually relates to one who
undertakes that professional role in terms of the Valuer Act 1948 requirements or the
unregulated or voluntarily self-regulated (if members of PINZ) plant and machinery,
marine or art valuers. Whereas, the term "appraisal" is usually related to an estimate by
a real estate sales person or licensed agent under the Real Estate Agents Act 2008.
The Real Estate Institute of New Zealand includes many valuer members, but the
governing legislation for sales and agency (disposal of interests of land on behalf of
others) does not extend to include provision for that role by valuers regardless of
membership of NZIV, RICS or PINZ.
There is a key distinction between the role of a real estate agent and a valuer, as an
agent may advocate for its principal's interests, whereas a valuer must impartially and
independently provide opinion as to value. Lawyers, Conveyancers and Real Estate
Agents are permitted to act in the sale of real estate under quite different legislation
from that which governs valuers. The provision for the role in relation to Lawyers and
Conveyancers is the Lawyers and Conveyancers 2006.
In 2011 to 2015, the number of Registered Valuers in New Zealand has generally
between only around 900 to 950 each year. This is an ageing 'top heavy' professional
with difficulty retaining new and young members due to pay, work stress and the recent
advent of 'clearing houses' for banks to order valuations for mortgage purposes. The
clearing houses have largely ended the long-standing local practice of members of the
public seeking advice directly from a valuer. The use of electronic estimates based on
Rating Values (Local Government mass appraisal for levies) is also leading to a
reduction in standard valuation work and is significantly affecting the viability of small
valuation businesses. The profession is in the process of a wider corporate restructuring
of the valuation market due to these factors with various perceptions within
profession as to the merits of the events of the last five years.
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