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Question 1
Could you please elaborate on the core functions and objectives of the Valuers Council of Zimbabwe, especially in the context of the current economic landscape.
Answer:
In answer to the above question, it is important to state that prior to independence which came in 1980, the country was modelled as a British colony with structures akin to the Common Wealth. One of these core structures is was the profession of Valuation and Estates Management. The Royal Institute of Chartered Surveyors was an integral part of the practice of Valuation in the then British colony.
The legislation then in place was a combination of Estate Agency, Valuation and Auctioneering. However between 1996 and 2000, there was a separation of the aspects of the profession. The Valuers Act was put in place as separate from the Estate Agency Act.
The Valuers Act No.5 of 1996 as amended did not receive Presidential assent until February 2006.
There was established a Committee to spearhead the Registration of Valuers.
In August 2014 the first full Council was inaugurated with seven members and a Registrar.
The Act sets out at Section 4 that “It shall be the function of the Council to hold inquiries for the purposes of this Act, and to do all things required to be done in terms of this Act, and such other things, as in the opinion of the Council, are necessary for ensuring that the competence and conduct of Valuers practicing in Zimbabwe are of a standard sufficiently high for the protection of the public.
Hence the core function hinge on protecting the public by maintaining the profession in line with international Valuation standards.
The current economic climate is no different to what is happening elsewhere in the world. The basic requirements for professionals are set to deal with all the vagaries of the modern society, to curb corruption, to make sensible value judgements which encourage a good investment climate, encourage a collaborative portal in sync with similar organisations within SADC, COMMESA and African Union as well as global affiliations.
The Council is mandated to determine what is necessary to be done to ensure the competence and conduct of Valuers at a level high enough to safeguard the public at large.
Question 2
What motivated you to become the Chairperson of the Valuers Council, and how do you envision the future of the Valuation profession in Zimbabwe during your tenure.
Answer
The motivation stems from the fact that I am a Registered Valuer, I am in the profession and if we as women do not offer our participation, how does gender equality come? The future of the profession in Zimbabwe is that we must co-operate with other countries in the region and be part of the global community of valuation professionals adhering to International Valuation Standards.
Question 3
In what ways does the Valuers Council uphold professional standards and ethics among Valuers in Zimbabwe.
Answer
The Council is Regulatory in nature: it has the provisions of the Act. It has put in place the Statutory Instruments that regulate the conduct of registered Valuers. It holds seminars to sharpen the knowledge base of practicing Valuers, it requires continual development and it has a points system which must be attained annually. It upholds professional standards by carrying out inspections at Valuers firms as well as checking the standards of reports.
If a complaint is received from any quarter the council will enquire into the matter and make a value judgement.
Question 4
What are some of the significant challenges that the valuation profession is currently facing and how is the Council addressing these issues.
Answer
- Not everyone calling themselves valuers are necessarily Registered Valuers. There is a register of Valuers which is available to the public. The challenge of bogus Valuers is real.
- There are challenges in the charges demanded by Valuers as well as their customers.
The Valuers Council has published a minimum scale of how much should be charged . There is an issue where the valuer charges less than the scale and the other where the customer or client wants to pay less than the scale.
Non adherence to the minimum scale creates problems to the public as well as to the fiscal authorities who then do not derive what should be due to them. This then impinges on the gross domestic product.
The other challenge is the existence of the multi currency era in which we are. The Council give the guidance on how to tackle the dilemma of which currency to for example, to report on in financial accounts.
Question 5
Could you share any recent initiatives or programs that the Council has launched to enhance professional development and training of Valuers.
Answer
The current Council started in January 2023, so it is in its second year.
Each year 3 to 4 seminars are targeted covering petinent subjects. Generally attendance ranges from average to high in terms of numbers. C.P.D. awards are given to those who attend our Seminars and those of sister organisations.
Question 6
How does the Valuers Council collaborate with other stakeholders in the Real Estate sector, including Government bodies and financial Institution, to promote a cohesive Valuation framework?
Answer
The stakeholders include the Bankers Association of Zimbabwe, the Legal fraternity, Government Departments lke Master of High Court , The Registrar of the High Court, PRAZ, Ministries of Local Government, Justice, National Housing, Internal Valuation Agency, the Local Police, Builders and Developers Association, the Engineering, Architects Council, Local Authorities and many other organization .
We cannot yet say we are as well known as we would like to be. We hope we can attain a position where everyone knows and refers people to the Valuers Council through actively ,marketing ourselves. Use of our website, radio and T.V and social media are some of the channels we plan to utilize.
Question 7
How does technology play in shaping modern Valuation practices and what steps is the Council taking to incorporate technological advancement into the Valuation process?
Answer
One cannot escape the technology wind which is growing in force exponentially in all areas, Valuation practice included. As a Regulator, the Council encourages its members to not lag behind. Use of latest methods in measurement, photography, appraisal and report writing are encouraged. Bearing in mind that to become a Registered Valuer, one must undergo a BSC Honors first degree, then work for at least three years, as well as become a member of a professional organization such as the Real Estate Institute of Zimbabwe, the Registered member comes in with a high degree of technological knowledge.
Question 8
What initiatives does the Valuers Council have in place to raise awareness about the importance of professional valuation services among property owners and the general public?
Answer
The initiatives in place include sharing the list of Registered Valuers and registered firms licensed to carry out valuation professionally. The awareness initiatives include direct contacts with the bodies representing the Legal Profession, the Bankers, the Developers, the Government Agencies such as the Master of the High Court office, the Local Government Associations as well as the Housing Association.
It is the view of the Council to make greater use of the media in future.
Question 9
How does the Council view gender diversity within the Valuation profession and what strategies are employed to encourage more women to enter and thrive in this field.
Answer
Currently the Council is composed of three women, one of which is the chairperson and four gentleman one of which is the Vice Chairperson. Strategies available include being active in the correct guidance seminars held at schools and colleges, registering with students associations at institutions of higher learning and use of public media.
There are several women led firms. The proportion of women compared to the men is still squid in favor of men.
As the Council goes forward into the future, the one strategy that is to increase public awareness through pamphlets distributed at Agricultural shows, the Zimbabwe International Trade Fairs and use of radio and television media.
Question 10
As we look towards the future, what are your long term aspirations for the Valuers Council of Zimbabwe, and how do you foresee the landscape of property valuation.
Answer
The Valuers Council is one that is part of the Global Valuation Professional players worldwide. The future would see the Valuers Council of Zimbabwe more closely working with other bodies in SADC region, COMESA and other African affiliates in the African Union and from there have links with International Valuation bodies firstly as a Regulator and secondly as a critical player in the upgrading of the Valuation profession to the highest standards expected in the Real Estate field.
We see ourselves as playing a leading role in upholding best practice.
