Fees - Land valuers
Land valuers set their own fees however a written disclosure of all fees for service must be disclosed to the client prior to entering into any agreement. Land valuers must not receive a fee above the disclosed amount unless there is a significant change in the scope of the work.
As with any other purchase, consumers should do their homework and shop around for the best deal to suit their circumstances before engaging a land valuer.
Land valuers are able to set their own fee schedule. However, the client must be notified of the maximum fee for service before entering into an agreement.
Prior to being appointed to act by the client, land valuers are now required to provide their client with a costs disclosure which sets out the maximum amount they can charge for their services. This amount must include all fees, commissions, charges and general office disbursements (eg photocopying, postage, stationery, telephone calls, facsimiles, courier costs etc) that the land valuer will charge the client for their service.
A land valuer will not be entitled to receive payment for a service that exceeds the amount disclosed to the client unless:
- There is an unforseen, significant change in the scope of work required to provide the service; and
- The settlement informs the client in writing of the change;
- The client agrees to the licensee continuing to provide the service; and
- The additional amount is reasonable in the circumstances.
Professional indemnity insurance and disbursements
Professional indemnity insurance is not a disbursement and a proportion of the insurance premium should not be charged to clients. Consequently, any valuer who breaches the remuneration notice in this manner may be at risk of disciplinary action.
- Licensing for Land valuers
- Proactive Compliance and Checklist for land valuers
- Change of Details Notification
- Land valuers newsletters and bulletins
Act and Regulations
Available from the State Law Publisher
Code of Conduct
The Code of Conduct was gazetted on 4 October 2016, replacing a version of the Code published in February 2016.
Licensing Advice Line: 1300 304 064
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