European Valuation Standards - A Practical Approach to Valuation in a Post Pandemic Economy
Friday 5th November 2021
9am – 2pm
5 TEGOVA CPD Hours
Conference Segment 1.
9.00 - 10.20am
Carol Tallon – CEO, Property District
9.00: Conference Moderator
Carol Tallon, CEO of communications agency Property District, specialises in PR, new media and public consultation for the built environment. With more than 15 years across the planning, construction, property and proptech sectors, Carol has worked with government departments, industry representative bodies, property developers, construction contractors, auctioneering firms and media outlets. In addition to founding Proptech Ireland back in 2016, Carol and the Property District team produce Ireland’s first weekly radio show for the property industry ‘Property Matters’ on Dublin South FM and iPropertyRadio.com.
Paul McCourtney - President, IPAV
9.05: Presidential Address
The new President of the Institute of Professional Auctioneers & Valuers (IPAV) is Dubliner Paul McCourtney. Paul took over the reins of office from outgoing President Tom Crosse at the Institute’s AGM which took place in the Radisson Blu Hotel, Stillorgan, Co Dublin on Saturday September 25th. A native of South Dublin, Paul McCourtney ran McCourtney & Sons for a number of years before it was acquired by Beirne & Wise in 2015. The firm was founded by Paul’s father, Michael McCourtney in Rathfarnham before moving to Churchtown in 1995. Paul joined the business in 1984 and became a member of IPAV in 1987. He was elected to National Council in 1989 where he held a number of positions, including Junior and Senior Vice-President.
Darragh O'Brien TD, Minister for Housing, Local Government & Heritage
9.15: Ministerial Address
Darragh O'Brien TD was appointed Minister for Housing, Local Government and Heritage in June 2020. He is an elected TD for the constituency of Dublin-Fingal. Prior to his election to the 30th Dáil in 2007, Minister O’Brien worked mainly in Financial Services and was elected to Fingal County Council in 2004. He was elected to Seanad Éireann in 2011. He has held various positions within the Oireachtas including Vice-Chairperson of the Public Accounts Committee, Member of the Oireachtas Committee on Justice, Equality, Defence and Law Reform, Leader of Fianna Fáil in the Seanad and Opposition Frontbench Spokesperson on Dublin, Foreign Affairs and Housing.
Krzysztof Grzesik - Chairman of the Board of Directors TEGOVA
9.30: The Blue Book 2020, a blueprint for a unified European valuation profession
Krzysztof is a recognised European Valuer, with many years of experience as a property consultant in the UK and mainland Europe. In the UK he had been a partner of Kinney & Green, chartered surveyors in the City of London before setting up the real estate services arm of Price Waterhouse in Poland in 1991. At that time, he also undertook consultancy work in the Czech Republic, Hungary, and Russia. In 1997 he joined Healey & Baker (Cushman & Wakefield) as a partner and in 2000 he became managing partner of King Sturge Poland. In 2004, he set up Polish Properties Sp. z o.o. specialising in the valuation of commercial property across Poland. Krzysztof is the Chairman of The European Group of Valuers’ Associations (TEGOVA). He is also a past Chairman RICS Europe and the International Representative of the Polish Federation of Valuers’ Associations.
Professor Nick French - Real Estate Valuation Theurgy
9.50: Property Valuation; the complexity of simple comparison
Nick is a recognised expert in the area of property valuation and appraisal. Previously, he has worked at as a professor at various Universities in the UK, Europe and the USA teaching extensively in the areas of valuation, investment and corporate real estate on BSc, MSc and MBA programmes. Currently, he is working closely with The European Group of Valuation Associations (TEGoVA) on a number of research matters and he recently authored the TEGoVA report “Pricing to Market – Report on Comparable Evidence in Property Valuation”. He is also a member of the Royal Institution of Chartered Surveyors (RICS) and has regularly served on the various committees such as the UK Valuation Board and the Corporate Real Estate Strategy Group. He was also a member of the Professional Board of the International Valuation Standards Council (IVSC).
Conference Segment 2.
10.30 - 11.20am
Pat Davitt - CEO, IPAV
10.30: Remembering Roger Messenger
Pat has worked in the auctioneering industry for over 30 years. Currently CEO of IPAV, in the absence of any national valuations standards in Ireland he spearheaded the introduction of the ‘Blue Book’ European valuation standards in 2013. These standards are recognised by the Irish Central Bank and the European Central Bank for which they hold default status. He has overseen the growth of a comprehensive system of professional education and development for members and for those wishing to enter the profession. Pat was elected to the Board of The European Group of Valuers Associations (TEGOVA) in 2017 and is also a member of its European Valuation Qualifications Board. He was elected to the Board of CEPI, the European Association for Real Estate Agents in 2017.
David Magor OBE - CEO, Institute of Revenues, Rating and Valuation (IRRV)
10.45: The Digital Revolution in Valuation for Rating
Formerly Director of Housing and Revenues at Oxford City Council, David is a past President of the IRRV and became its CEO in 2001 He was awarded the OBE in 1995 for services to local government. His knowledge of the theory and practice of local revenues and property valuation and taxation is held in high regard and he has been a frequent advisor to Government departments as well as the devolved Assemblies and Parliaments in the United Kingdom. He is also a member of the OECD training group advising transition countries and recently an advisor to the Northern Ireland Assembly and a member of the Barclay Implementation Group in Scotland, the Rate Retention Steering Group in England as well as involvement in the review of land tax in Wales and projects with the Valuation Office in Ireland. He is an author of both hardcopy publications and e-learning tools. He has presented papers at numerous international conferences. Among his many public and media appearances he has recently been a speaker on BBC Radio’s Money Box and a guest on the BBC Radio 4 Reunion programme.
Sharon Magee – Director of Rating Policy in Land & Property Services
11.00: Land & Property Services: Origins to Present
Sharon Magee is Director of Rating Policy in Land & Property Services in Northern Ireland providing advice and briefing to the Minister of Finance and to the Executive on rating policy matters, including research, consultation, impact assessments, monitoring and evaluation. She has over 30 years’ experience in the valuation profession, and has worked in various locations across Northern Ireland, specialising in rating casework and revaluation project management. She was a member of the Joint Professional Institutions Rating Valuation Forum which reviewed the Contractor’s Basis of Valuation Guidance Note and produced the 2017 update. Sharon is a graduate of the University of Ulster and a RICS Rating Diploma holder. She was part of the first group of Diploma holders from Northern Ireland to qualify in 2003, and was Chair of the Section in 2017. She is a RICS APC Assessor, a Prince 2 Registered Practitioner, and a member of the International Association of Assessing Officers (IAAO).
Conference Segment 3.
11.30 - 12.50pm
Technical Aspects of Valuation & Discussion Panel
Tom Crosse – GVM
Tom Crosse, IPAV’s President, is Group Director of GVM Auctioneers with offices in Limerick, Kilmallock and Tullamore. A native of West Tipperary, he is a Fellow of IPAV and previously served as IPAV President in 1997/98. Tom is a qualified Recognised European Valuer, Convenor of IPAV’s Agri Committee and serves on IPAV’s Members’ Assist & Mentoring Committee. Tom is a regular contributor to IPAV’s annual Farming Report and has extensive experience across the property spectrum, notably in the agri/commercial/residential sector in sales, lettings and valuations.
Martin O'Brien - South East Office Manager, Owens McCarthy Public Loss Assessors
11.35: Rebuilding and Demolition Costs
Owens McCarthy are Ireland’s largest firm of Public Loss Assessors, providing claims expertise and representation to Policyholders. Martin O’Brien has more than 30 years’ experience in the property/construction/insurance sector. He manages Owens McCarthy’s South-East office and is an integral part of Owens McCarthy’s technical claims team. Martin is a qualified Quantity Surveyor, an Associate of the Society of Chartered Surveyors, and a Member of the Royal Institute of Chartered Surveyors. He holds a Degree in Quantity Surveying and Certified Diploma in Loss Adjusting.
Brendan McGing - CEO, Brendan McGing & Associates
11.50: Dilapidation Survey Report on Restoration Words Required to Restore a Property Back to its Original Condition Prior to Tenancy
Brendan is a Registered and Chartered Building Surveyor and a Chartered Project Management Surveyor who has in excess of 33 years’ experience within the construction and property sectors, in both Ireland and the UK. After working in other firms and organisations for almost 16 years, he established his own independent practice in July 2004, Brendan McGing & Associates Limited. He also became Managing Director of OLM Consultancy in October 2017. Both are firms of Chartered Building Surveyors, Chartered Project Management Surveyors, Fire Safety Consultants, Health & Safety Consultants and Building Compliance Consultants. Brendan’s experience ranges across many of the sectors in the construction and property industry on existing building stock, new build developments and refurbishment projects. His main areas of expertise are that of Technical Due Diligence, Dilapidations Advice, Fire Safety, Assigned Certifier, Project Management, Contract Administration, Health & Safety, Building Pathology, Stock Condition Surveys, Ancillary Certifier (Fire Safety and Access & Use) and Expert Witness Advice.
Dave Fitzgerald – Head of Financial Lines, KennCo Underwriting Ltd.
12.05: Professional Indemnity Insurance Explained
Dave is Head of Financial Lines at KennCo Underwriting Limited. He has over 15 years’ experience advising on Professional Indemnity insurance, particularly within the property sector as both a broker and underwriter. Dave will advise on the current Professional Indemnity market for property professionals and the requirements needed to comply with regulatory bodies and valuation panels. He will also discuss the obligations on delegates and provide risk management advice in relation to complaints and claims handling.
Conference Segment 4.
1.00 - 2.00pm
John LeTourneau - Realtor, Educator & Speaker
1.00: New Valuation Trends in USA
John LeTourneau has been actively involved in both residential and commercial real estate for over a decade. He has served a wide range of clients from the entry level to the ultra-luxury, and completed office, retail, industrial, multi-family, and medical office transactions. He is currently the Commercial Director at Keller Williams Realty. As his career developed, John has always believed in giving back to the real estate community. He is the Treasurer of The Mainstreet Organization of Realtors, which is the 6th largest association in the United States, a member of the Board of Directors of Illinois Realtors, the Illinois Realtor’s Liaison to the Irish Consulate in Chicago, a Legislative Contact for State Senator John Curran, and serves on various committees for his Local, State, and National Realtor Associations. He speaks across the United States, Canada and Europe on a wide range of real estate topics and is a tireless advocate for raising the bar in the real estate industry.
Gareth Williams – Director, CBRE Hotels
1.20: Hotel Valuations the A-Z
Gareth Williams is a Director at CBRE and Head of Operational Real Estate Valuations for Ireland. He carries out valuations on operational real estate within numerous sectors of the market including hotels, licensed and leisure properties. He provides valuations and advice to financial institutions, single owner operators, large property and operating groups. Gareth has in-depth experience in the valuation of commercial property in various sectors having initially joined CBRE Dublin’s commercial valuation team in 2006 and formerly lectured in valuation on the Higher Certificate in Business in Real Estate in IT Tallaght (now TUD). He is a member of the Royal Institution of Chartered Surveyors, Society of Chartered Surveyors Ireland and is an RICS Registered Valuer.
Conference Sum Up with Carol Tallon and Pat Davitt
1.55 – 2pm