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Consumer Protection are seeking industry views on the final draft of the new Land Valuers Code of Conduct 2016.
Status: CLOSED Friday 20 May 2016
The new code, will replace the existing Land Valuers Code of Conduct 2011, (the 2011 Code) and implements feedback previously received from the industry during a review in 2013. The intent of the changes is to make the code more relevant and appropriate to the current property market and industry practice.
The purpose of this phase of the consultation is to give industry participants an opportunity to comment and consider any practical implications before the new code commences.
The main changes in the new code include:
There are also new rules requiring licensed valuers to:
In May 2013, the Department issued the Property Industry Codes of Conduct Discussion Paper which highlighted and sought feedback on a range of issues relating to the 2011 Code and the codes of conduct for the settlement and real estate industries. The majority of respondents to the discussion paper supported the codes and the need for them to be amended to provide greater detail and clarity on matters relating to the duties of licensees.
Ongoing consultation with the Australian Property Institute has occurred during the drafting of the new code.
These changes are in addition to fee deregulation and the related cost disclosure requirements introduced in February 2016. No further changes have been made to these requirements.
Licensed valuers will have a transition period of 1 month from the date that the new code comes into effect before having to comply with its requirements. During this period a licensed valuer who complies with the 2011 Code but not the amended version will not have breached the code.
Licensed Valuers Code of Conduct 2016 - consultation draft
Licensed Valuers Code of Conduct 2011 - current code
The consultation phase is now closed.
Enquiries can be made by calling Consumer Protection Advice Line on 1300 304 054 or by email.
The draft code is available to the industry for comment and consideration of any practical implications before commencement.