A banker sends a WhatsApp: "Roughly how much is this unit worth?" Most valuers have had that message. Many have answered it.
On 21 May 2026 the Board issued two notices that every registered and probationary valuer should read together. One tightens how indicative values may be given. The other bans commission-based pay for valuation staff. Both come with a warning of disciplinary action, and one with random audits.
Key regulatory takeaways
- LPPEH (BOVAEP) Notification 08/2026: written indicative valuations only to banks, only by WhatsApp or email, always with the full MVS 12.3.8 disclaimer.
- No indicative valuation by formal letter on firm letterhead.
- Notification 09/2026: valuation staff may not be paid per assignment, on success, or by a share of valuation fees.
- Both notices are dated 21 May 2026 and apply to registered valuers (V) and probationary valuers (PV).
Can a registered valuer give an indicative valuation in Malaysia?
Only to a bank, only by WhatsApp or email, and only with the full disclaimer required by Standard 12.3.8 of the Malaysian Valuation Standards (Seventh Edition). LPPEH (BOVAEP) Notification 08/2026 of 21 May 2026 confirms it may never go out on firm letterhead, and warns of disciplinary action.
| Practice | Allowed? | Source |
|---|---|---|
| Written indicative value to a bank, by WhatsApp or email, with the full disclaimer | Yes | MVS Standard 12.3.8 |
| Written indicative value to anyone other than a bank | No | MVS Standard 12.3.8 |
| Written indicative value to a bank without the full disclaimer | No | MVS Standard 12.3.8 |
| Indicative value in a formal letter on firm letterhead | No | Notification 08/2026 |
What is an indicative valuation?
In everyday practice, an indicative valuation is a quick figure a valuer gives before, or instead of, a formal valuation report, often from a desktop look at recent transactions. It carries none of the inspection, analysis and reporting behind a full valuation, which is why the MVS restricts how it may be given.
Banks use these figures to screen loan applications before ordering a full valuation. The risk is that a figure meant for that narrow purpose ends up in a buyer's hands, or on a letterhead, and is read as a valuation.
What does Notification 08/2026 say?
Notification 08/2026 restates the Board's Notification 30/2023 of 30 October 2023 and MVS Standard 12.3.8. Written indicative valuations are prohibited except to banks via WhatsApp or email with the full disclaimer, formal letters on firm letterhead are not allowed, and breaches by registered or probationary valuers face disciplinary action.
The notice goes one step further than a reminder. It encourages registered valuers to report other registered valuers who do not comply, so that the MVS is followed in full across the profession. In 2025 the Board had also invited valuers to a seminar on the latest amendments to the Seventh Edition (Notification 17/2025).
Can valuation staff be paid on commission?
No. LPPEH Notification 09/2026, also dated 21 May 2026, bars paying valuation assistants, executives and officers on a success basis, per valuation assignment, or by a share of valuation fees. Full commission and part-salary, part-commission schemes both breach the Board's requirements under Act 242 and the 1986 Rules.
The notice follows up Notification 4/2025 of 26 March 2025. The Board says it has seen these pay schemes remain widespread since then. It explains that "commission" in the notice means any pay tied to assignments or fees in the ways listed.
| Pay structure for valuation staff | Under Notification 09/2026 |
|---|---|
| Full commission | Not allowed |
| Part salary, part commission | Not allowed |
| Payment per valuation assignment | Not allowed |
| Pay linked to a share of valuation fees | Not allowed |
Keep your MVS knowledge current with Board-approved PEPS CPD seminars for registered and probationary valuers.
What should a valuation firm check now?
Review three things: how indicative figures leave the firm, the disclaimer wording on every WhatsApp or email to a bank, and the pay terms of every valuation assistant, executive and officer. The Board says it will audit registered firms at random, and non-compliance can lead to disciplinary action.
- Channels. Indicative figures go only to banks, only by WhatsApp or email. Stop any letterhead template for them.
- Disclaimer. Check that every message carries the full disclaimer that MVS Standard 12.3.8 sets out.
- Requests from others. If a buyer, seller or developer asks for a written indicative figure, the answer is a formal valuation.
- Contracts. Read each valuation staff contract for success fees, per-job payments or fee shares, and restructure them.
- Records. Keep the revised contracts and a note of the change on file, ready for an audit.
How should a valuer answer a buyer who wants a quick figure?
Decline politely and offer a formal valuation. Under MVS Standard 12.3.8, a written indicative value may go only to a bank. A buyer, seller or developer who needs a figure to rely on should engage a registered valuer for a full report, charged under the Board's scale of fees.
A short standard reply helps staff hold the line: explain the rule in one sentence, set out the cost and turnaround of a formal valuation, and ask whether the client wants to proceed. Keep a copy of the reply on file.
Why does this matter for property buyers and banks?
An indicative figure is not a valuation report. A bank that receives one gets it with a disclaimer, through a channel the standard allows, and a formal valuation remains a separate engagement. Buyers who need to rely on a value should commission a full valuation from a registered valuer (V).
Our guide Why Do I Need a Valuer? explains when one is needed.
Frequently asked questions
Does Notification 08/2026 apply to probationary valuers?
Yes. It is addressed to all registered valuers and probationary valuers.
Which edition of the MVS applies?
The Seventh Edition. Notification 08/2026 cites its Standard 12.3.8.
Can I send an indicative value to a buyer or developer?
No. A written indicative value may go only to a bank, by WhatsApp or email, with the full disclaimer.
Will the Board check firms' pay practices?
Yes. Notification 09/2026 says the Board will carry out random inspections and audits of registered firms.
Related guides: the valuation fee scale and how to prepare for the TPC.
Pull up last month's WhatsApp replies to banks and check each one against Standard 12.3.8 before an auditor does. Then book an MVS refresher through PEPS CPD, or contact the PEPS Secretariat at Plaza Damas, Sri Hartamas.
Sources: LPPEH (BOVAEP) Notification 08/2026 and Notification 09/2026, both dated 21 May 2026.