Under Rule 10.2(a) of the Code of Conduct Rules 2012 (Code of Conduct), a written appraisal is required when an agent, or any licensee engaged by the agent has (or is entering into) an agency agreement with a client.

In light of the recent severe weather events in the North Island, numerous properties have been damaged, and there may not be comparable sales data in the region to calculate an accurate price range for the appraisal.