The Valuer From An International Perspective

MEDIA RELEASE
Tuesday June 17 2003

THE ROLE OF THE VALUER FROM AN INTERNATIONAL PERSPECTIVE TO BE EXAMINED AT PROPERTY INSTITUTE CONFERENCE

The changing face of Valuation will be examined by three speakers at the upcoming New Zealand Property Institute's conference being held at the Hyatt Hotel, Auckland, on Thursday 3rd and Friday 4th July 2003, with the theme of "Driving Property Forward".

New Zealand Property Institute CEO, Conor English said today, "The face of the Valuation profession is changing in many areas. The conference is an opportunity for Valuers to examine and get some answers on what is driving the profession, the opportunities and where it is going to from both a national and international perspective."

Mike Steur, National Director, Valuation and Advisory Services, Australia and New Zealand, CB RICHARD ELLIS Pty Ltd has wide experience as an International Valuer and Advisor. He is based in Sydney following relocation from Auckland in March 2001. Mike will provide an international perspective and touch on issues such as;

- Differences between Australia and NZ for the practicing Valuer - influence of Australian investors on NZ market - the way they look at NZ, does or should this change the way some assets are valued?

- Remuneration structures and levels for Valuers; How do fees vary - are we expensive or cheap? income/cost of living comparison for Valuers around Australian and NZ capital cities and elsewhere;

- New areas of business - specialization; determination vs arbitration; rotation of Valuers in Trust work; receiving of instructions; legislation; should a Valuer work in another jurisdiction or country? Use of local Valuers - what would be a normal protocol?; Valuing in unstructured markets - eg some Pacific Islands and parts of Asia;

- Insight into strengths and weaknesses of Valuers globally - where do NZ Valuers rank ?; Importance of research and understanding of market drivers; do International standards work? Methodologies - differences, similarities; what qualifications are recognised?

- Understanding complexities of managing a valuation of international assets - a case study the Australian Government portfolio valuation which Mike managed in 2001 2002 and 2003, covering some 145 properties in 41 countries at a combined value of USD1.1 billion.

A further workshop session focusing more on a New Zealand perspective will be conducted by well know Valuer, Lecturer and Author Rod Jeffries, of LJ Hooker, and Dean Humphries, of Jones Lang LaSalle

ENDS

Proud sponsors of the conference include; Aon Insurance; AMP Henderson; Bayleys Real Estate; Beca Valuations; CB Richard Ellis; Datacom Employer Services; DTZ New Zealand Ltd; Headway Systems Limited; Jones Lang LaSalle; Opus International; Vision Computers; Stack; Property People; Lincoln University; Programmed Maintenance Services, Ernst & Young Business Improvement Group; Maltbys.

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