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'Increasing professionalism never stops'
In recent years we have often seen reports in the media about all the necessary changes in the valuation world. These changes are certainly not always received with the greatest cheers from our members and our customers, but necessity breaks the law.
The incorrect valuation practices in the past, carried out by a small group of less talented individuals, made it necessary to tackle the system thoroughly. Subsequently, it took a lot of work and hard work was done to create a solid structure for the Dutch Register of Real Estate Valuers (NRVT).
REV title
But one thing is certain. The whole new set-up of the valuation system has meant that the reports are more well-founded and the certified valuer must be able to fully explain the content. And all this based on the valuation guidelines of the EVS and/or IVS.
In addition to this obligation, there is also the option of obtaining the renowned REV and/or RICS title. An independent assessment determines whether the certified appraiser is well versed in and able to apply the mandatory TEGoVA guidelines. Only then will the appraiser be eligible for the REV title. As chairman of the Agricultural Real Estate section, I therefore plead with all our FEB members to obtain this title in order to demonstrate their added value.
real estate calculations
The content and structure of the report may have been improved in recent years, but it stands or falls with the application and understanding of the correct calculation method in the valuation. Real estate calculation, as it is also called. For commercial real estate it has been possible for some time now to apply the value of the object to be appraised via validated models. I will spare you the names of these models. In my field of work of agricultural real estate, we will also be heading there in the long term.
Of course, this does not alter the fact that, as a certified REV appraiser, I must understand all the 'ins and outs' of the model and the underlying calculations. It is therefore not possible to simply fill it in. As an appraiser, I am responsible for what is noted in the report, including the accompanying substantiation of the determination methods. Incorrect representation of the market value can have structural consequences for the client, for which I am responsible.
It is therefore a bitter necessity that I invariably continue to delve into the calculations for real estate and keep my level up through permanent education. This year a number of national courses are planned on this specific theme. Increasing the professionalism of the appraiser never stops. And that applies to all appraisers!
Hans peters
Chairman of the Agricultural Real Estate Section
