Polish Valuers Recognised in Europe!
Last month over 80 delegates and guests from across Europe attended the General Assembly of The European Group of Valuers' Associations (TEGoVA) at the Sheraton Hotel in Warsaw. Tegova is the European property valuation standard setting body with a membership of 40 valuers' associations in 24 countries. The General Assembly was hosted by The Polish Federation of Valuers' Associations (PFVA).
The highlight of the 3 day event was a diploma award ceremony conferring „Recognised European Valuer” status upon 233 top Polish valuers.
For many years TEGoVA has been seeking to harmonise property valuation standards across Europe in response to calls from cross border investors, funds, banks and other users of valuation services operating in what has become a global property market.
Those relying on valuation advice have also been anxious to receive assurances that valuers employed by them are properly qualified, practice on a day to day basis, meet lifelong learning requirements and subscribe to a code of ethical conduct.
Three years ago TEGoVA began to develop a scheme which would readily identify such valuers in Europe and the Polish Federation agreed to kick start the scheme with a pilot project in Poland. A similar pilot project has also been successfully completed France.
The outcome has been the formal endorsement and launch of the scheme by TEGoVA in Warsaw. The 233 Polish qualified valuers who received their diplomas will have the right to use the title „Recognised European Valuer” and the letters „REV” after their names.
Chris Grzesik, International Representative of PFVA and TEGoVA Board member, in expressing his delight with the launch of the new scheme said „the demand for such recognition of professional valuation practice has been long awaited in Europe with its diverse qualifications and valuation standards.
The Polish valuation profession can be proud of its achievement. Its status in Europe has been raised significantly”
He added however, that those with the REV title „cannot rest on their laurels, as the „recognition” is granted only for 5 years and subject to renewal thereafter”
The General Assembly also endorsed the text of new European Valuation Standards to replace existing standards published in 2003. After a period of consultation the new standards will be published in the Autumn and will come into effect in January 2009.
According to Grzesik, „EVS 2009 have been drafted in response to changes in valuation practice and European Union directives which over the years have impinged on property valuation particularly in the areas of bank lending and insurance”.