Unregistered valuers undertaking property appraisals is slowly becoming a worry for the Valuers Registration Board.

The Board believes the properties need to be valued according to factors outlined in the real estate sector.

Board Chair Dr Abdul Hassan has confirmed that there have been several instances where unregistered Valuers tried to appraise a property and were reported to the authorities.

“We are looking into it and we are monitoring the activities of agents who are registered and even those who are not registered. When we come across people who are engaged in doing valuation then we refer the matters to the police department to investigate and prosecute those people.”

Dr Hassan says there is a strict policy in place for those who are tasked in rating the value of a property.

He adds currently there are around 60 registered Valuers in the country.