In today’s rapidly evolving economic landscape, professional services across all industries must remain agile and responsive to shifting market dynamics and customer expectations. Whether in law, accounting, or valuation, the ability to adapt is no longer a luxury – it’s a necessity. The rise of digital ecosystems, evolving stakeholder needs, and increased scrutiny around data transparency are transforming what clients expect from their service providers.
For professions built on trust and expertise, such as property valuation, this presents both a challenge and an opportunity. It’s crucial that valuation processes and outputs remain robust, transparent, and defensible. This means anchoring practices in globally recognized international valuation standards. These frameworks provide the consistency and reliability that underpin stakeholder confidence, especially in high-stakes lending, investment, and regulatory environments.
However, while standards are essential, they must not become shackles. The end users of valuation services – from banks and insurers to local councils and tech-savvy investors – are evolving. They are seeking faster turnaround times, more integrated insights, and delivery methods that match the pace and connectivity of their businesses. To remain relevant, professionals must remain open to listening. Actively engaging with clients to understand their changing requirements is vital if we are to shape valuation products and services that are fit for the future.
Looking forward, valuers also need to future-proof their services and operations. The risks of ignoring modern expectations – such as robust data security protocols or the ability to deliver reports and analysis via secure APIs or blockchain-ledgers—are real. If our clients are moving rapidly into secure, digital-first ecosystems, then valuation professionals must ensure they’re not left behind. Evolving reporting formats, real-time data integration, use and understanding of new sources of data and modelling, such as Climate Change and Natural Hazard Data and connected delivery mechanisms should be on our radar now – not later.
This is about more than technology; it’s about protecting the relevance of the profession. By investing in modern capabilities and customer-centric thinking today, valuers position themselves to be proactive rather than reactive – ensuring their advice, insights, and services continue to add value in tomorrow’s world.
The New Zealand valuation profession remains highly regarded by its key stakeholders. Our adherence to international standards, combined with deep local expertise, places us in a strong position. But with the only constant being change, this strong position should not be taken for granted. It’s an exciting time to be in valuation, and now is the right moment to start the conversation – about the future of reporting, the role of the valuer, and how we can continue to deliver trusted, insightful, and future-ready services to those who rely on us
We know that these conversations are already happening in some corners of the profession – but for many, this kind of forward thinking represents a significant shift. It’s a change in mindset, in infrastructure, and in process, potentially requiring significant investment And understandably, human nature often leans toward comfort. The sentiment of “That all sounds like hard work – and no one is forcing me to change today” can be strong. For some, especially those later in their careers, there might even be a temptation to “ride it out” and leave the transformation to others.
But we cannot afford this mindset. The profession’s long-term sustainability depends on today’s leaders taking action – not just for themselves, but for those with long and exciting careers ahead. If you’re leading a firm, now is the time to embrace the challenge, to think boldly, and to help shape the future. And for those within firms where these conversations aren’t being had—don’t sit back. Ask the questions. Start the conversation, or find those firms who are! The future of valuation is ours to shape. Let’s make sure we’re all part of the journey.