Exposure Drafts

New and updated standards documents (such as a Technical information Paper or a Guidance Note) are drafted by working groups or sub-committees of the API Standards Steering Committee (the Committee) or the Property Institute of New Zealand (PINZ) equivalent. 

Before issuing any new or updated standards documents public consultation paper is prepared and submitted to the Committee with a recommendation that it be issued as an Exposure Draft for consultation and feedback.

An Exposure Draft document released for consultation will be available on the Institutes website. Notifications will also be sent to members and any identified interested parties. A consultation period of four to six weeks will normally be allowed for feedback and comment.

Responses will be collated, and the relevant working group or sub-committee will consider what amendments are appropriate to apply to the Exposure Draft. If the feedback received indicates that major change from the Exposure Draft is necessary, the Committee may issue a second Exposure Draft for consultation.

The Committee may decide to modify or depart from the consultation procedures set out above.

After considering feedback received during the consultation period any amendments deemed appropriate a final version of the document will be added or amended. This will be prepared by the working group, or sub-committee, and submitted to the Committee with a recommendation that it is fit for purpose to the released. The Committee will review and if deemed appropriate the final paper will be approved for publication, including the date upon which it is deemed to be effective.

Please note: 

  1. Exposure Drafts do not have any formal standing until they are adopted by API / PINZ as being suitable for use by Members.
  2. They must not be relied upon, reproduced, or used by any Member or any other party for any reason whatsoever.
  3. Reliance should be given to currently adopted/approved/sanctioned Guidance Notes and Technical Information Papers only.
  4. Members and the general public are warned that Draft Guidance Notes and Technical Information Papers may be at various stages of the development and review process and, that they may change or be amended during this development process.

For more information about Professional Standards, please contact us at standards@api.org.au or get in touch.

Open Consultations

Having a clear and transparent consultation process is a prerequisite for the development of professional standards.  The API is committed to providing all stakeholders with the opportunity to review and provide input and comment about draft papers via the exposure draft process.  This will ensure that those with the knowledge and expertise over a broad range of fields are able to participate in providing feedback for the ongoing improvement and development of professional standards.  

The API’s standard setting process is overseen by the API Standards Steering Committee.

Closed Consultations

Closed consultations appear below in date order with the most recently closed consultations at the top of the list.

ANZVTIP 9 – Market Value of Rural and Agribusiness Properties

The initial consultation period for this paper was between 3 July 2018 and 25 July 2018.

A subsequent consultation period for this paper was between 20 January 2021 and 5 March 2021.

The API is currently reviewing the feedback received and will advise when a new paper is released.

The current paper is available on our TIPs and Guidance Notes page.

ANZVTIP 14 – Considerations when forming an opinion of value when there is a shortage of market transactions

The consultation period for this paper was between 5 August 2020 and 5 September 2020.

Based on feedback and comments received the API released the final paper with an effective date of 1 January 2021.

The current paper is available on our TIPs and Guidance Notes page.

ANZVTIP 13 – Valuations for Compensation and Compulsory Acquisitions

The consultation period for this paper was between 4 March 2020 and 15 April 2020.

Based on feedback and comments received the API released the final paper with an effective date of 1 January 2021.

The current paper is available on our TIPs and Guidance Notes page.

ARPTIP 3 – Methods of Measurement

The consultation period for this paper was between 14 August 2019 and 11 September 2019.

Based on feedback and comments received the API released the final paper with an effective date of 1 April 2020.

The current paper is available on our TIPs and Guidance Notes page.

ANZRPTIP 1 – Retrospective Valuations

The consultation period for this paper was between 6 February 2019 and 6 March 2019.

Based on feedback and comments received the API released the final paper with an effective date of 1 January 2020.

The current paper is available on our TIPs and Guidance Notes page.

ANZRPTIP 11 – Valuation Procedures – Real Property

The consultation period for this paper was between 5 December 2018 and 8 February 2019.

Based on feedback and comments received the API released the final paper with an effective date of 1 July 2019.

The current paper is available on our TIPs and Guidance Notes page.

ANZRPTIP 12 – Valuations for Mortgage and Loans Security Purposes

The consultation period for this paper was between 5 December 2018 and 8 February 2019.

Based on feedback and comments received the API released the final paper with an effective date of 1 January 2020.

The current paper is available on our TIPs and Guidance Notes page.

ANZRPTIP 7 - Leasing Agent Services

The consultation period for this paper was between 16 March 2018 and 18 April 2018.

Based on feedback and comments received the API released the final paper with an effective date of 1 July 2019.

The current paper is available on our TIPs and Guidance Notes page.