Valuer W (penalty) [2010] NZVRB 1

In its decision of 22 October 2009, the Board found Valuer W guilty of incompetent conduct in the performance of their duties as a valuer. This renders them liable to a penalty provided by the Valuers Act 1948 relating to their valuation of the subject property. A second charge that they made a mortgage recommendation that was excessive was not upheld. The Board considered Valuer W had adopted an incorrect methodology leading to an incompetent “as if complete” market valuation.