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1. Give up on broker channel, and enter dialog with bank directly to just get a bit of clarity about the valuation, their position and see if they are will to move a little. This is a long shot, but i suppose worth doing as not much effort. 2. Take the reval and the extra $$$ int he short...

How long was it between purchase and valuation?

never chat to a valuer, it can only ever harm your chances. Give it another shot in 3 months, or try a diferent bank, theres a few now that have low/no cost pre-application valuations. Just make sure you get a diferent valuer!