Herriotts Valuations were finally shown for what they are by a local paper.

I wonder how Mr Herriot would feel if someone in the Media published an article on Iain Herriot child Molestor and used the same sort of research and fabrication to destroy his live as he has used to destroy my reputation, would he be very happy?

I went through the Newcastle earthquake and after My Truck Driver, Ces Abbott, was killed and my business was destroyed I came to Queensland and built a business that was selling over 1000 properties a year, employed 400 people and was turning over $250 Million per year in property, finance and Insurance. This business was destroyed after we were attacked by firstly by the media, then the state government and the ACCC. At the start both the Media and the Queensland State Government relied upon the valuations done by Ian Herriot, lets have a look at some of Herriots valuations.

Herriots had a habit of devaluing a property just because we were involved or was it they made a mistake on one or the other, you decide?

Rivergum Drive Nerang

Herriotts              13/8/1999                $159,000

Herriotts              15/12/1999               $120,000

Now this is a drop of $39,000, did the market drop by 20+% in 4 months? Which one should we believe? Which one is correct? If you bought in August 1999 were you robbed? If You bought in December did you get a bargain, please Mr Herriot tell me which one is correct?

Ridgeway Avenus Southport

Herriotts               8/3/1999                         $208,000

Herriotts              31/7/1999                        $190,000

Again which one is correct, or did the market drop 10% in 4 months? So Mr Herriott which valuation is correct, did the people who bought with your original valuations pay $18,000 too much and were therefore ripped off?

If so will you refund the $18,000 and $39,000 to them? Or did you simply revalue the property down to get your name in the media trying to make marketers look bad? Please Mr Herriot tell me which valuation is correct or would you tell us they both are because you are never wrong.

In 2005 after closing my old business down I tried to start up another business and had organised to sell properties in Warwick in 2005. But themedia found out and enlisted Mr Herriott to do a valuation for them. It was obvious to them that because I was ininvolved then the properties were overpriced and we would be ripping people off. So they sent out Mr Herriott to prove this and surprise, surprise, he came back with a valuation lower then the selling price. 

The Warwick people were up in arms about this so the local paper done a story on August 3rd 2005, for some reason it is not on their website any longer but I have attached a copy of the article in the photo album. 

Anyway after talking to local valuers, real estate agents and developers it was found that the properties were in fact good value. In fact they seem to think that there was a shortage of land and that it would be a lot more than Herriotts valuation. Herriots estimate of the land was as low as $45,000 and the Locals seem to think it was $60,000.

That is a 30% difference and Herriot and the Courier Mail were successful in closing my business down for no good reason other than spite, Herriot obviously did no research and used inferior quality comparisons and did not look at anything comparable. 

The interesting comment was that Mr Herriott refused to say how much he had been paid by the Courier Mail for his Valuation.

Herriot also done a valuation which was accepted by the Queensland Government Real Estate Tribunal which was used to gain a Judgement against me after the retrospective legislation was made. Herriot Valued the property at $90,000 yet the Federal Court Judge and the 3 Appeal Judges found that a Valuation of $135,000 was too low and would not accept the $135,000 Valuation as a fair market value. The ACCC refused to mention Mr Herriots Valuation of $90,000 and did not call him as an expert witness in the court case, ask yourself why this would be?

The reason the valuation was not accepted by the Court's was because the ACCC wanted a low Valuation and they had to rebrief the Valuer 3 times to get a low enough Valuation and disregarded more than 250 Comparable New Sales. 

So how is it that Herriot can continue to come up with these Low Valuation and people still believe him to be a creditable Valuer when even the ACCC disregarded his $90,000 Valuation as ridiculously low, and the Judge found that there was no evidence to suggest the property was overpriced at $159,900 and that the $135,000 Valuation was not accurate because of the Valuation method that was used and evidence from comparable property sales were disregarded. 

I wonder how Mr Herriot would feel the Media told how he was a Child Molestor and used the same sort of research and fabrication to destroy his live as he has used to destroy my reputation?