Resources for Education in Valuation Standards in Europe Erasmus Project

Project Title

Resources for Education in Valuation Standards in Europe

Project Key Action

This project related with these key action: Cooperation for innovation and the exchange of good practices

Project Action Type

This project related with this action type : Strategic Partnerships for vocational education and training

Project Call Year

This project’s Call Year is 2015

Project Topics

This project is related with these Project Topics: Recognition, transparency, certification; New innovative curricula/educational methods/development of training courses; International cooperation, international relations, development cooperation

Project Summary

The purpose of this project has been to invest in the development of a new Europe wide training initiative to support awareness and implementation of the new European Valuation Standards 2016 (“The Blue Book”). IPAV was 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, being led by IPAV, and closely assisted by UK’s Institute of Revenues Rating and Valuation, and involving TEGoVA (The European Group of Valuers) is transnational and will ultimately benefit tens of thousands of valuers across the EU.

Key to the success of this project is the involvement of The European Group of Valuers’ Associations (TEGoVA), which represents 44 Valuer Associations from every country in Europe and which has published the recent edition of the European Valuation Standards “The Blue Book” 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 aim of the project is to deliver such training material using European VET initiatives with an objective to deliver a training and certification which can be recognised across the partners and ultimately across Europe. No comparable training in relation to European Valuation Standards 2016 was available in Europe and this has been a necessary and unique project.

The work of the project involves the development of:
– 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 in the project have been:

• Institute of Professional Auctioneers and Valuers (IPAV – Dublin), representing the majority of valuers in the Republic of Ireland
• Institute of Revenues, Rating and Valuation (IRRV – UK), an old established professional body representing private and public sector valuers and those with a professional interest in valuation. IRRV has a licence from the UK Government to accredit its own training courses and qualifications
• Latvian Association of Property Appraisers (LIVA – LV) which represents the majority of Registered Valuers in Latvia
• Polish Federation of Valuer Associations (PFVA), which is the leading Government recognised training and standards making body in Poland
• European Group of Valuers, TEGoVA which acts as a European Umbrella organisation representing national valuer organisations at a European level in Brussels and across Europe. It represents 74 national associations in 37 countries.

The outputs of the project were :

– Development of a general training manual containing modules to support the new 2016 European Valuation Standards. The manual is a collection of training modules produced by the partners in the project linking directly into the Standards;
– 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 has been given to existing, new and proposed European Directives and other relevant legislation, some of which has emerged during the course of the project.

The overriding objective behind the project is to provide participants with 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, especially internationally. Longer term, the pack will be available to each TEGoVA member, eventually reaching a potential audience of over 140,000 individual practitioners.

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 international understanding is an imperative and a consistency of practice across borders is required.

EU Grant (Eur)

Funding of the project from EU: 263802 Eur

Project Coordinator

Institute of Professional Auctioneers and Valuers Limited & Country: IE

Project Partners

• TEGoVA Aisbl
• Institute of Revenues, Rating and Valuation
• Latvijas Ipasumu Vertetaju Asociacija
• Polska Federacja Stowarzyszen Rzeczoznawcow Majatkowych