ASSOCIATION FRANCAISE DES SOCIÉTÉS D'EXPERTISE IMMOBILIÈRE (AFREXIM)
91 rue du Fauboug Saint-Honoré
Tel: +33 1 55 27 26 49
President: Philippe Taravella MRICS REV
Vice-President: Philippe Guillerm FRICS REV
Treasurer: Fabien Sellon REV
Secretary: Claude Galpin MRICS REV
Secretariat: 1 staff
Number of direct members: 10 companies
Number of qualified valuers (individuals): 280 through valuation companies
Member of TEGoVA since: 1997
Category of Membership: Full
Founded in 1995, AFREXIM is a professional body bringing together the ten leading French companies specialising in property valuation.
Permanent Representatives to TEGoVA
Philippe Taravella MRICS REV
Crédit Foncier Expertise
24, rue des Capucines
Tel. : +33 (01)57 44 58 10
Philippe Guillerm FRICS REV CIS HypZert (MLV)
Cushman & Wakefield Expertise
Valuation & Advasory France
11-13 Avenue de Friedland
T: +33 (0)1 41 02 71 88
Mobile: +33 (0)6 84 13 67 49
Jean-François Drouets FRICS REV
Immediate Past President
Member of the Board & Treasurer of TEGoVA France
Member of the Board of Directors of TEGoVA
Catella Valuation, France
184, rue de la Pompe
(Access to the premises: 6, rue de Lasteyrie)
Tel: +33 (0)1 56 79 79 79
Fax : +33 (0)1 56 79 79 80
Mob: +33 6 84 37 72 82
Brief History and Role
Founded in 1995 as a non-profit French association, AFREXIM represents the most important French valuation companies :
* BNP PARIBAS REAL ESTATE EXPERTISE
* CATELLA VALUATION
* CBRE VALUATION
* CREDIT FONCIER EXPERTISE
* CUSHMAN & WAKEFIELD EXPERTISE
* DTZ EUREXI
* ICADE EXPERTISE
* JONES LANG LASALLE EXPERTISES
* KNIGHT FRANK EXPERTISE
* VIF EXPERTISE
The main roles of the Association are the representation of its members vis-à-vis the public authorities and professional bodies, the development of the profession, the education of valuers and the quality control of their work.
AFREXIM also helps develop relationships between valuers, their clients and the various operators in the property sector.
Its principal characteristics are:
- Regular quality control among its members.
- Research into and diffusion of methodological recommendations.
- Reflections on the development of the property valuation profession.
- the defence of the ethical and professional interests of its members,
- their representation to the public authorities and the main professional bodies (AMF, ACP, ASPIM, AFG, FFSA, FSIF etc.),
- consultation among its members on all professional matters of common interest within the limits permitted by law and the development of cordial links within the profession.
Principal Areas of Policy
- Ensuring the respect of ethical and professional values.
- Guaranteeing the independence of the valuation firms who are members of the Association.
- Structuring the profession by helping with the harmonisation, adaptation and development of methods.
- Annually checking the quality of work produced by the valuation firms who belong to it.
- Representing its members to the public authorities and various professional bodies.
- Setting up exchanges with other professionals in this sector, both nationally and internationally.
Ethical values and the independence of member firms
- The representatives of the firms who are members of the AFREXIM undertake to respect a professional ethical code, based on transparency, integrity, impartiality, confidentiality and independence, in carrying out their work.
- The firms who are members of the AFREXIM make a distinction between property valuations, reports and advisory missions linked to valuation. They are independent from the groups to which they belong (with separate legal structures and corporate responsibilities, specific professional indemnity insurance and separate IT functions).
Harmonisation of working methods
- AFREXIM, as a signatory of the Property Valuation Charter produced on the initiative of the IFEI, took part in producing its revised version which appeared in June 2006 and also in setting up a committee to supervise the application of the Charter.
This committee takes an active interest in the respect of the Charter and coordinates any updating made necessary by developments in the profession and any changes in legislation, regulation or other mandatory standards.
- In conformity with the Charter and the recommendations of the AMF, the AFREXIM has also drawn up a list giving the minimum requirements for documentation and information to be provided to a valuer for the purposes of a property valuation.
- AFREXIM has taken part in the production of the European Valuation Standards set out by TEGoVA (The European Group of Valuers' Associations) and published in its blue book entitled «European Valuation Standards».
Ongoing reflection on the profession and the evolution of standards
Property valuation is playing an increasingly important role in the growth and organisation of property portfolios. Its development is therefore continuous. It needs to adapt to changes in regulation, especially in the following areas: planning, construction, the environment, tax, legal and financial matters. The AFREXIM thus plays its part in an ongoing reflection on all of the factors affecting the main aspects of property valuation, as also on the role of the valuer and professional responsibility arising therefrom.
Annual quality control
The firms who are members of the AFREXIM are subject to an annual audit for quality control.
This consists of appointing two inspectors, chosen at random from among the other members of the AFREXIM, who examine contracts between the parties and both the content and format of reports.
Respect of the Association's statutes by the member firms is also checked.
So far, AFREXIM is the only association with an annual quality control system in place.
Representation of members to public authorities and professional bodies
- The Association builds relationships with:
- national and international experts in this sector,
- but also with other operators in the property industry
in order to improve communication between the various players in this sector having direct or indirect connections with valuation.
- AMF: every other year, the AFREXIM sends the French Financial Markets Authority (Autorité des Marchés Financiers) a report containing:
- the results of quality controls carried out within the AFREXIM and any measures to which these have led,
- the trends and practices current in property markets,
- professional developments in valuation, both national and international.
AFREXIM is an association run by a committee representing its member companies. The Committee meets every month.
The Association Committee currently consists of:
Chairman: Philippe Taravella (CREDIT FONCIER EXPERTISE)
Vice-Chairman: Philippe Guillerm (CUSHMAN & WAKEFIELD EXPERTISE)
Treasurer: Fabien Sellon (ICADE EXPERTISE)
Secretary: Claude Galpin (VIF EXPERTISE)
The organisation is completed by the holders of the following posts of responsibility:
- Claude Galpin (VIF EXPERTISE) and Jean-Claude Dubois (BNP PARIBAS REAL ESTATE EXPERTISE): in charge of the ethics, quality control and statutes sub-committee
- Jean-François Drouets (CATELLA VALUATION), Denis François and Anne Digard-Benoit (CB RICHARD ELLIS VALUATION) and Philippe Guillerm (CUSHMAN & WAKEFIELD EXPERTISE): in charge of relations with the regulatory institutions
- Gareth Sellars (JONES LANG LASALLE EXPERTISES) and Jean-Philippe Camarans (DTZ Eurex): in charge of valuation standards
TEGoVA FRANCE translated the European Valuation Standards 2012 into French.
Member of the FFEE
In 2010, AFREXIM took part in establishing the FFEE (French Federation of Valuers).
This multi-professional organisation aims to bring together practising financial and property valuers.
The FFEE represents French valuers on the International Valuation Standards Council (IVSC).