REVASE: Resources for European Valuation Standards in Europe

The REVASE project will provide participants with the knowledge and understanding of the application of European Valuation Standards which will improve their skills and competence.

Project articles are available to download below.

Introduction

The Institute of Professional Auctioneers and Valuers (IPAV) has been successful in obtaining funding from the ErasmusPlus programme of the European Commission to develop learning material which will be used both in a training context and as a guide for professional practice in the industry in order to meet the needs of professional valuers in an increasingly sophisticated property market. The project, led by IPAV, closely assisted by UK's Institute of Revenues Rating and Valuation (IRRV), and involving The European Group of Valuers' Associations (TEGoVA), the Polish Federation of Valuers' Association (PFVA) and the Latvian Association of Property Appraisers (LIVA) is transnational and will ultimately benefit tens of thousands of valuers across the EU.

TEGoVA (71 valuer associations from every country in Europe and beyond) has published European Valuation Standards "The Blue Book" for a number of years. The eighth edition was launched and published in May 2016. EVS 2016 is a professional practice manual which is effectively a summary of the accumulated knowledge and experience of European practice and valuation. However, it does not provide practical information on how to conduct a property valuation nor does it provide associated training material.

The Purpose

It is intended that the project will fill this gap and will develop:

- Training modules to incorporate the newly developed standards

- Training plans

- Training needs analysis tool which can identify individual skill sets and deficiencies

- Production material including hard copy, DVD and web based

The Partners

The Partners in the project are:

From Ireland: Institute of Professional Auctioneers and Valuers (IPAV)

From the UK: Institute of Revenues, Rating and Valuation (IRRV)

From Latvia: Latvian Association of Property Appraisers (LIVA)

From Poland: Polish Federation of Valuers' Associations (PFVA)

From the EU: The European Group of Valuerss' Association (TEGoVA)

The Task

The following is planned as the result of the application:

- Development of a general training manual and modules to support new EVS work based on training modules produced by the partners in the project;

- Support for partner countries to undertake their own modifications to the material to enable them to adopt the material and at the same time comply with local standards and requirements;

- Dissemination procedures and training sessions on EVS using developed training modules and templates;

- The development of an appropriate infrastructure to enable updating of the outputs from this project thus ensuring sustainability into the future beyond the period of EU funding;

- Consideration will be given to existing, new and proposed European Directives and other relevant legislation.

The Present

In the short term, a comprehensive training resource pack is being developed which will enhance the understanding and the application of the European Valuation Standards. This will facilitate the development and sustainability of the project. Longer term, the pack will be available to members' of each Partner, eventually reaching a potential audience of over 70,000 individual practitioners.

The Future

Looking further ahead the increasingly widespread use of the standards will provide more cross border consistency in the valuation of land and buildings, thereby meeting a growing need in the property marketplace. This will in turn increase the number of policy areas, especially in the macroeconomic area, in which the standards will become influential, where a consistency of practice across borders is required.

Conclusion

In short, the project will develop and enhance the overall understanding and application of the European Valuation Standards across the whole of Europe and the wider use of these group of standards will be an inevitable outcome of this wider understanding.

Contact

For further information, please contact Patrick Davitt, Chief Executive of IPAV or visit www.revase.eu

Erasmus+

Erasmus+ is the European Union programme for education, training, youth and sport for the years 2014 to 2020. It provides funding and support for organisations to operate projects consistent with its objectives and which encourage European exchange, co-operation and learning. Erasmus+ is funded by the European Union through the contributions of member states, including Ireland. Funding of almost €170 million has been allocated to Ireland for the duration of the programme.

Erasmus+ funding is available to all sectors (or fields) of formal, informal and non-formal education. Structurally, Erasmus+ is divided into three 'Key Actions' describing the kind of project activities possible.

further information available at www.leargas.ie/programmes/erasmusplus/

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