Title Developing a European Framework for Valuation Standards
Project Number UK/09/LLP-LdV/TOI-163_290
Project Type Transfer of Innovation
Country UK-United Kingdom
Marketing Text DEFVAS has developed a series of training modules focusing on training for professionals in property valuation. These have been based on a professional practice guide by the European Association TEGoVA known as the "Blue Book" which has been adapted to be a training manual with case studies.
Summary The project has produced an extensive training tool based upon the European Valuation Standards together with a scripted webinar and a complete training course with ready to use materials. The scriped webinar is available openly to all those who wish to access it. The project has been a considerable success with a print run of over 300 hard copies of the training material that will be distributed all over Europe. The Transfer of Innovation is being utilised by several accession countries, including Montenagro and Serbia together with established European partners, such as Bulgaria and Latvia.
The purpose of this project was to invest resources in the preparation of detailed guidance notes and information sources to support European Valuation Standards and to encourage best practice in valuation. This has been achieved. A publication is already available which details Valuation Standards (known in the industry as the Blue Book). The partners have transfered the innovation of this material and adapted it for use a training resource in the different partner Member States – the output is a series of modules that are a logical extension of the “Blue Book”. This has been been achieved by expanding sections, updating others, and, crucially, introducing local country chapters and case studies as a series of papers, available online and in hardcopy, which will enable the resource to be used both in a training context and as a guide for professional practice in the industry.
The opportunities for IRRV as the project promoter, TEGoVA (the European Valuers Association), were two fold :
• very few of the new Member States, including those which joined in 2004 and 2007, have a sufficiently developed infrastructure to devise and implement standards in valuation. However, change is happening at a very rapid pace and eastern European associations can now make meaningful contributions to such a project., hence the involvement of ANEVAR in this project. Other Member States in Central and Eastern Europe will take a keen interest in the project and will take an increasing interest in the resource pack. The partners as well as participating in the regular meetings of the project have been briefed at the TEGoVA general assemblies as well as the numerious dissemination events that have been run through the life of the project.
• The internationalisation of the industry has meant that there has been an increasing and evolving need for expertise in non-domestic markets. It is impossible for property professionals to develop sufficient knowledge of the detail of domestic issues relating to valuation in these markets. The project has therefore created a resource that has given both participants and other professional in Europe the opportunity to access material which is free to the market place.
In short, the partnership has been an opportunity to make a huge contribution to Valuation Standards and Practice throughout europe by the coordination of trans-European collaboration. The impetus has been created by the rapid expansion of the EU and the desire of new Member States to become part of a European best practice and standards network.
Recognition, transparency, certification
Open and distance learning
Financial and Insurance Activities
Other Service Activities
Real Estate Activities
transparency and certification
open and distance learning
material for open learning
Product information The project has produced three basic products, the first is a scripted webinar which has been recorded and placed on the DEFVAS website. The presentation of the webinar is in English, however, the provision of the script enables this to either be voiced over or subtitled. The second product is an entensive training resource which transfers the innovation of the European Valuation Stanards into a easy to access educational pack which has slides and scripted text associated with each element of the presentation. This is available in a bespoke designed folder with slip box and is being distributed free to all valuation profession bodies within the EU. The final product is the electronic version of the resource pack which enables the slides to be used instantly by those that receive it.