The Australian Valuers Institute Co-operative Limited was founded 65 years ago in 1938 under the name of The Institute of Building Society having a wide membership through NSW. Until recently it was called The Institute of Consulting Valuers and previously The Institute of Consulting Mortgage Valuers.

Only valuers who are AVI members with current Practising Certificates issued by the AVI are able to participate in the NSW government Professional Standard Council Cover of Excellence^TM scheme.

The AVI Cover of Excellence^TM scheme demonstrates the commitment of members to maintain a high ethical standard. It encourages members to adopt practical risk management strategies to achieve quality of service and to create a culture of excellence and responsibility. That culture supports qualified, proficient practitioners to serve the best interests of clients and provide a proper cover of protection.

For more information on the Professional Standards Scheme and to see how it may assist you in managing your valuation business, please click the link below or contact the AVI.  secretary@valuersinstitute.com.au

http://www.agd.nsw.gov.au/psc.nsf/pages/cover_1

The Australian Valuers Institute (AVI) Professional Standards Council Cover of Excellence Scheme commenced in 2001. Our membership entry requirements place a critical importance on the following areas -

• Each applicant must have an excellent claims history. All members requesting a practising certificate must answer the claims history questions on the application and renewal forms. While a proven claim will usually disqualify an applicant, the Board on the overall strength of the application, considers each application for membership on its own merit. 
• Each applicant must be registered as a Practicing Real Estate Valuer with the Department of Fair Trading NSW under the Valuers Registration Act 2003.
• Each applicant must have a satisfactory commercial reputation and experience.
• All members must acknowledge that they have read and agree to be bound by the Institutes Code of Ethics and Rules of Conduct on the application and renewal forms.

For the year ended June 2003 AVI received no legitimate claims against members. The AVI monitors public liability and professional indemnity insurance costs by holding open forums at seminars and Annual General Meetings and reviewing letters and annual renewal forms.

The AVI requires members to complete a minimum of 40 hours structured and unstructured CPD annually. The AVI Scheme applies to members with practising certificates issued by the Institute and members are required to certify their compliance with the requirement as part of the process of annual renewal of their practising certificates. The AVI supervises compliance with CPD by auditing 10% of members. For the year ended June 2003 AVI random audits found that all the audited members satisfactorily completed or exceeded the minimum CPD requirement.

CPD Worksheets

The AVI established a new Complaints and Discipline System when we applied for approval of our Cover of Excellence Scheme. Our system is modelled on the Model Code provided in the Professional Standards Act. No complaints were made against AVI members during the year ended June 2003.

Advisory and Support Services

The AVI has successfully fostered a fraternity approach to relationships between members. Board members and the AVI Secretary liaise with members regarding insurance and other risks. This informal consultative system of support and advice works to the benefit of our members.

Access to the AVI informal consultative network to answer members questions is available through the AVI Secretariat, secretary@valuersinstitute.com.au telephone 02 0994 5621, mobile 0414 680 387, fax 02 9894 5621.

The Board has introduced components in its annual seminar program covering current risk management techniques. These components have been delivered by contracted legal specialists who are currently further developing AVI Standards and Practising Guidelines under a grant obtained by AVI from the PSC under it’s Star Initiative Grant Program see http://www.agd.nsw.gov.au/psc.nsf/pages/whatwedoindex

AVI will be strengthening its relationship with its major stakeholders' by educating consumers on the importance of a complaint process. With banking and mortgage institutions being a major consumer of services of our members, the AVI will enhance communication with this consumer group to increase awareness of the institute and its role and functions.

The AVI is planning to expand its relationship with its broker to gain greater advantage for its members. We will enhance the existing formal evaluation program of seminars to gain more useful data on their effectiveness. One-day workshops are being planned to improve members risk management skills and are being designed to provide more specialised skills in areas that members consider are essential to improving both practice and personal standards.