Welcome to the Recognised European Valuer Scheme.
To date, as a TEGoVA Member, IPAV has trained and awarded 62 of its valuers to "REV" status, who are now using the "Blue Book" valuation standards with pride and excellence.
This scheme is designed to maintain, enhance and harmonise valuation standards and the valuation profession in Europe.
The international nature of real estate markets, particularly at this time of economic uncertainty, highlights the need for co-operation between valuers, ensuring they possess the awareness and knowledge required to enable them to provide accurate and informed advice to clients across Europe.
To date, the principal method of achieving these goals by TEGoVA has been through the creation and maintenance of European Valuation Standards (EVS) whereby TEGoVA has actively sought to harmonise standards and provide valuation guidance and best practice across Europe.
The increasing need for closer co-operation, be it with investors, financial institutions, developers, the construction industry or private investors, requires in addition to EVS, a personal indicator of excellence through a trans-European indicator of quality in order to assure clients of an individual valuers experience and knowledge.
Real estate valuation will of course continue to require regional specialist knowledge of local conditions but transnational investors increasingly require a means of ensuring that the "local" valuer is part of a wider recognised standard that they can rely on in making transnational investments. The Recognised European Valuer Scheme and use of the designatory letters REV™ provides such a pan-European assurance to investors of all types, by setting a transparent and demanding standard of ability and experience.
Details of the working of the Scheme and how to become a Recognised European Valuer through IPAV are detailed in this section of the website. IPAV believes in the professionalism of TEGoVA and the excellent valuation standards of the "Blue Book" hence it has embarked on the Valuation Standards it provides.
The Central Bank of Ireland have endorsed the 'Blue Book” standards, recommending them as best practice International Valuation Standards, and one that banks can use for their Property Valuation Reports. Already AIB and KBC Bank Ireland are using "REV" valuers to complete their property reports.
I wish all valuers well who use these standards and IPAV are delighted to have been instrumental in bringing them to Ireland.
Pat Davitt FIPAV (REV) MCEI