EURACTIV PR

An easy way of publishing your relevant EU press releases.

RICS launches Valuer Registration Scheme in continental Europe

Date

13 Sep 2011

Sections

Euro & Finance

Increasing confidence in European property valuation

RICS launches Valuer Registration Scheme in continental Europe 

Against a backdrop of continuing financial insecurity, Europe’s leading property valuation professionals have come together to support the regional launch of the RICS Valuer Registration Scheme. RICS unveils its new initiative in continental Europe today, 12 September 2011 (press release attached).

The Valuer Registration Scheme sets out an approach to raise confidence in the delivery of valuation advice and reinforce the highest professional standards in property valuation - a key component underpinning most economic activity. 

Ensuring the quality of property valuations, the RICS Valuer Registration Scheme will provide lenders, asset managers and investors a clearly identifiable designation for the best regulated and qualified professionals.

Leading property professionals from France, Germany, Spain, the Netherlands, Russia and Italy have already given their support to the scheme - the first global regulation initiative for property valuation. This launch follows a very successful introduction in the UK in October 2010 and precedes the Asian launch later this year.

RICS is a global organisation which sets industry standards for the property profession and 13,500 registered valuers signed up to the Valuer Registration Scheme during the first launch phase.

The initiative will monitor all members who carry out valuations under RICS Valuation Standards (the Red Book) which provide a regulated framework and practice guidance and standards, including compliance with International Valuation Standards (IVS) which are now recognised and adopted in most parts of the world. 

Valuations compliant with RICS Valuation Standards and monitored by the Valuer Registration Scheme will be consistent across borders, bringing greater transparency and helping to ensure the accuracy of existing property valuation processes.

Commenting:

Jean-Philippe Carmarans MRICS, Head of Valuation France at DTZ, and member of the RICS Europe Valuation Board said: “By promoting an international approach and improving global regulation, the process of deciding on property and land value will be increasingly accurate. This system will guarantee professionalism and quality in the application of international RICS and International Valuation Standards (IVS) to national and international regulators as well as clients everywhere.”

RICS Europe Board Chairman, Italy’s Luciano Capaldo FRICS, from Euroconsultancy-RE, said: “The events of the last few years have clearly demonstrated the value of sound, independent and consistent advice delivered to globally accepted standards. That is just what the chartered surveyor does and the Valuer Registration Scheme further underpins this with effective and practical self-regulation.”

Martin Brühl FRICS, a leading figure in the German property industry also supports the scheme. Martin is Managing Partner of Cushman & Wakefield in Germany and is one of RICS’ three Vice Presidents. He said:  “The quest for quality, regulation, ethics and transparency in the valuation process is what the RICS Valuation Standards are all about. We regard our right of professional self-regulation as a precious privilege that we must cherish and preserve at all times. To that end, launching the Valuer Registration Scheme in Europe is the next logical step in our mission for excellence, and it will give to our registered valuation practitioners an additional quality label on top of their RICS membership, as well as to the public a feature to look for when seeking utmost credibility in the valuation industry. As huge uncertainty continues to blight many of Europe’s economies, the benefit of having an international regulatory system that ensures and enforces that its members are practicing the necessary international standards is going to be vital over the forthcoming months, and, indeed years.”

Notes to editors:

For more information: www.joinricsineurope.eu/vrs

For more information:

Kate Symons

PR Manager (secondment) - RICS Europe

T: +32 (0)2 739 42 27 - M: +32 (0)479 35 43 38

E: ksymons@rics.org

W: www.ricseurope.eu/en/pressroom

Gael Bassetto

Communications Assistant

T: +32 (0)2 289 25 30

E: gbassetto@rics.org 

W: www.ricseurope.eu/en/pressroom   

Jobs

Federation of European Neuroscience Societies
Communication internship
OMCT Europe - World Organisation Against Torture
Human Rights Advisor / Eastern Europe, Turkey & Central Asia Programme
Open Society Foundations
Research Projects Coordinator
International Platform of Insects for Food and Feed (IPIFF)
EU Regulatory Affairs Manager (m/f)
Central commission for the navigation on the Rhine
Project Manager for a European contract in the domain of Inland Navigation
European Bureau for Conservation and Development (EBCD)
Intern - EU & International Fishery Policy
Avempace.be
Community Manager