Resources for European Valuation Standards in Europe (REVASE)

The European Group of Valuers' Associations (TEGoVA) represents 63 Valuer Associations from 34 countries in Europe. It has published European Valuation Standards “The Blue Book” for a number of years, the seventh edition was published in May 2012 and a further edition is being finalised with a view to being published in 2016.   EVS 2012 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.

Funding has been obtained 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 this need. It is intended that the project will develop:

- Training modules to incorporate the newly developed standards

-  Training plans

-  Training needs analysis tool

-  Production material including hard copy, DVD and web based material

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 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 intervention.

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

In the short term, it is expected that project will make available to partners a comprehensive training resource pack which will enhance the understanding and the application of the European Valuation Standards.  Longer term, the pack will be available to each TEGoVA member, reaching a potential audience of over 140,000 individual practitioners.

However, the overriding objective is that the resource pack will give participants the knowledge and understanding of the application of European Valuation Standards which will improve their skills and competence as valuers, enhance the status of valuation as a profession, and widen the base of career opportunities for valuers.

This project will add value to the proposition of providing cross border consistency in the practice and delivery of the valuation of land and buildings thus enhancing client confidence in the valuation process.

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 the standards will be an inevitable outcome of this wider understanding.  This will in turn increase the number of policy areas in which the standards will become influential.  This will be particularly evidenced in the property market where a transnational approach for valuation is important to ensure consistent transacting of properties across borders.

Looking further ahead the establishment of the standards will provide cross border consistency in the practice and delivery of valuations of land and buildings which will assist the customer of the valuation process.