AIC TEGoVA Mutual Recognition of Canadian and European Standards and Qualifications Roger Messenger BSc EstMan FRICS FIRRV MCIArb REV Hon CAAV ViceChairman TEGoVA Chairman European Valuation Qualifications Board ID: 565916
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Slide1
Valuation Co-operation beyond Europe
AIC/TEGoVA Mutual Recognition of Canadian and European Standards and Qualifications
Roger Messenger
B.S.c
(
Est.Man
) FRICS
FIRRV
MCIArb
REV Hon CAAV
Vice-Chairman
TEGoVA
Chairman European Valuation Qualifications Board
Wilks Head & Eve
Email: rmessenger@wilks-head.co.ukSlide2
Let us step back:
Valuation, is it an Art or a Science?In reality it is both and is derived from Education, Experience, Standards and Conduct
What
do we have in
TEGoVA
?
MER
EVS 2016
REV and TRV
Code of
ConductSlide3
We also have an involvement in Education
– TMA Training and Education in member states
REV
awarding in member
states
TRV
awarding in member
statesSlide4
One of the overarching goals of
TEGoVA has always been to raise the standards of Valuer Education across Europe
Not all start from the same place
Diverse between emerging and mature real estate markets
Problems of the recession and valuersSlide5
Reputational Damage to Valuers from Recession
Valuation – Confidence by Recipient is to Proven over time
Manage Return for more
RISK Professionalism
!
“RISK COMES FROM NOT KNOWING WHAT YOU ARE DOING” (Warren Buffett)Slide6
EVS is a tool, REV and TRV are the recognition of education and experience to use those tools
.However we face gaps in our education.
An
example
;
The
Green Agenda – are valuers ready
?
“ADMISSION OF IGNORANCE IS OFTEN THE FIRST STEP IN OUR EDUCATION” (Stephen R Covey – The 7 Habits of Highly Effective People
)Slide7
What else are we doing
EU funded
REVASE Valuer Training Material and
Education
VARVET
Projects
with
PartnersSlide8
WHAT IS THE RATIONALE FOR STRATEGIC PARTNERSHIPS
Most Important – Shared goals and shared problems
Strength in Co-operation
It is an invitation only to those with a shared ethosSlide9
TEGoVA
has its European StandardsWe do not subscribe to a global standard that is in a hierarchy. We look to the best that exists in a comparable form and respect those other standards on an equal basis.Slide10
Today
we have found such synergy with AIC and we are getting closer with others to achieving the same goal.
Synergy in
goals
Synergy
in Education
Standards
Synergy
in Valuation
Standards
Synergy
in
Qualifications
YET WE RESPECT THE DIFFERENCESlide11
We need to deal with common threats, poor fee income from a low value or devalued product?
Provide quality and you can command a price.
We have a number of banks using AVMs which for monitoring is fine but for primary valuation we suggest is a step too far. The valuer can bring to a valuation what an AVM can’t and that is insight, advice and experience – much more than the statistical science that an AVM represents.
A challenge to reverse a trend.Slide12
MEET THE CHALLENGE WITH STRAGETIC PARTNERS – THAT’S THE RATIONALESlide13
“
Do you know the difference between Education
Experience?”
“
Education is when you read the fine print, experience is what you get when you don’t
”.
(Pete Seeger
)Slide14
Thank You
Roger Messenger BSc FRICS FIRRV
MCIArb
REV Hon. CAAV RICS Registered Valuer
Vice Chairman of
TEGoVA
Chairman of REV Recognition Committee
WILKS HEAD & EVE
rmessenger@wilks-head.co.uk