Doing property valuations

You must not make any false or misleading claims about a property. This includes the estimated value of the property.

You may choose to give an estimated value of a property to a client. If you do, it must be as a comparative market analysis (CMA).

A CMA compares at least 3 properties that:

• are of similar standard or condition
• sold within 5km of the property
• sold in the last 6 months.

If you cannot find 3 properties that fit these criteria, you will need to:

• give your market advice in writing
• justify how you reached your opinion.