IPAV is a “TEGoVA Member Association” (TMA) since May 2013 and is awarded the right to confer Recognised European Valuer (REV) status on it's members.
REV status is a guarantee that an IPAV (REV) Valuer is proficient in TEGoVA Minimum Educational Standards (MES) and can complete valuations to “Blue Book” standards.
IPAV in association with the Institute of Technology Tallaght, run an approved TEGoVA course to ensure it's members obtain the required MES. IPAV members are presented with the REV certificate and granted REV status on successful completion of this course, pass the relevant exams, complete the work log and confirm they will abide by the TEGoVA Corporate Governance and Ethical Practice for Property Valuers.
Recognition is granted for a period of 5 years after which time the valuer must seek renewal of their REV status.
IPAV is the only TEGoVA TMA in Ireland and all REV applicants must be registered members of IPAV and have at least 10 years valuation experience.
In a report published in December 2012, the Central Bank of Ireland named the ‘Blue Book’ as one of three of its valuation standards. Valuers on the valuation panels of all banks must be competent on applying the ‘Blue Book’, or another comparable, valuation standard.