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Property experts gather to discuss accuracy and reliability in valuation

Date

17 Oct 2011

Sections

Euro & Finance

RICS Valuation Conference - Accuracy and Reliability: Views from Europe, 27 October, Main Tower, Frankfurt

Leading experts from France, Germany, Russia, the United Kingdom and Spain will join together to discuss accuracy, transparency and reliability in property valuation at the RICS Valuation Conference in Frankfurt on 27 October. 

Ever since the financial crisis began, and in a context of continuing economic instability, property valuers have come under increasing scrutiny. Property valuations are a key component at the heart of most economic activity and across the market, there has been a growing demand from regulators and clients for greater transparency in defining value. As one of the global leaders in Valuation Standards, it is RICS’ priority to provide property experts with a forum to share their knowledge in the field. 

Covering topics such as subjectivity in valuations, volatile markets and their impact on the reliability of property valuation, event speakers include Ben Elder FRICS, Global Director of Valuation, RICS Professional Groups & Forums, Alexander Lopatnikov MRICS, a chartered business and machinery valuation surveyor with global firm American Appraisal and Jean-Philippe Carmarans MRICS, Head of Valuation France at DTZ. 

Speaking about the RICS Europe Valuation Conference, Ben Elder FRICS, Global Director of Valuation, RICS Professional Groups & Forums, said: “The conference is an opportunity for property valuers to come together to learn about and examine important issues at the heart of property valuation. Events like this are key for promoting transparency in the methodology adopted and the way value is determined. Continuous learning in this field is essential. This is why it is vital for property professionals and qualified specialists to have a forum such as the RICS Valuation Conference to share knowledge of international standards and commit to meeting higher ethical standards.”

This major event follows the September launch of the RICS Europe’s Valuer Registration Scheme (VRS) - an initiative which sets out an approach to raise confidence in the delivery of valuation advice and reinforce the highest professional standards in property valuation.

The VRS initiative monitors all RICS members who carry out valuations under RICS Valuation Standards (the Red Book) which provide a regulated framework and practice guidance. The Red Book is compliant with International Valuation Standards (IVS) which are now recognised and adopted in most parts of the world.  

Speaking about the RICS Valuation Standards, Ian Harcourt MRICS, from RBS Nordisk Renting in Stockholm, RBS Global Banking & Markets Nordic Region, commented: “Over the last 13 years, I have actively and consistently promoted the use of RICS Valuation Standards. The main method we have employed of ensuring a transparent and professional approach to valuation has been the instigation of several valuation panels across Europe. My motivation has been to ensure a long-term, reliable and sustainable approach to valuation with a focus on consistency, format, quality and professionalism and following the RICS Valuation Standards has allowed me to do exactly that. When managing valuations across multiple jurisdictions the ability to compare reports is vital, especially if the reports are being used for supporting investment or secured lending decisions.

“With increased globalisation more firms are realising the importance of a consistent, qualitative and professional valuation methodology and I believe other firms including Nordic ones are also now insisting on RICS as their de facto standard.”

Note to editors:

For more information about the RICS Europe Valuation conference on 27 October, click here.

For more information about the RICS Valuer Registration Scheme: www.ricseurope.eu/vrs

For more information about RICS Valuation Standards, watch our video

About RICS

RICS is the world’s leading qualification when it comes to professional standards in land, property and construction.

In a world where more and more people, governments, banks and commercial organisations demand greater certainty of professional standards and ethics, attaining RICS status is the recognised mark of property professionalism.

Over 100 000 property professionals working in the major established and emerging economies of the world have already recognised the importance of securing RICS status by becoming members.

RICS is an independent professional body originally established in the UK by Royal Charter. Since 1868, RICS has been committed to setting and upholding the highest standards of excellence and integrity – providing impartial, authoritative advice on key issues affecting businesses and society. RICS is a regulator of both its individual members and firms enabling it to maintain the highest standards and providing the basis for unparalleled client confidence in the sector.

 
Kate Symons
PR Manager (secondment) - RICS Europe 
T: +32 (0)2 739 42 27 - M: +32 (0)479 35 43 38
 
Gael Bassetto
Communications Officer
T: +32 (0)2 289 25 30 
 

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