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ASSOCIATION FRANCAISE DES SOCIÉTÉS D'EXPERTISE IMMOBILIÈRE (AFREXIM)

French Association of Property Valuation Companies 
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Coordinates

91 rue du Fauboug Saint-Honoré
FR-75008 Paris

Tel: +33 1 55 27 26 49

Structure

President: Jean-Philippe Carmarans
Vice-President: Claude Galpin MRICS REV
Treasurer: Fabien Sellon REV
Secretary: Aron Shadbolt
Secretariat: 1 staff

Number of direct members: 9 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 Guillerm

Philippe Guillerm FRICS REV CIS HypZert (MLV)

Vice-President

Deputy Head
Cushman & Wakefield Expertise
Valuation & Advisory France
11-13 Avenue de Friedland
FR-75008 Paris

T: +33 (0)1 41 02 71 88

Mobile: +33 (0)6 84 13 67 49

J-F Drouets

Jean-François Drouets FRICS REV

Immediate Past President
Member of the Board of Directors and Treasurer of TEGoVA

CEO
Catella Valuation, France
184, rue de la Pompe
(Access to the premises: 6, rue de Lasteyrie)
75116 Paris

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
* ICADE EXPERTISE
* JONES LANG LASALLE EXPERTISES
* KNIGHT FRANK VALUATION
* 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 dissemination of methodological recommendations.
- Reflections on the development of the property valuation profession.

Principal Activities

- 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

Main objectives

- 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 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 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 TEGOVA's 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 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 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
- 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, 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.

Organisation

The Committee

AFREXIM is an association run by a committee representing its member companies. The Committee meets every month.

The Association Committee currently consists of:

Chairman: Jean-Philippe Carmarans (CUSHMAN & WAKEFIELD)
Vice-Chairman: Claude Galpin (VIF EXPERTISE)
Treasurer: Fabien Sellon (ROUX REAL ESTATE VALUATION)
Secretary: Aron Shadbolt (KNIGHT FRANK VALUATION)

The organisation is completed by the holders of the following posts:

- 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), Anne DIGARD (CBRE VALUATION) and Jean-Claude DUBOIS (BNP PARIBAS REAL ESTATE EXPERTISE) in charge of relations with the regulatory institutions

Membership

See above.

Publications

TEGoVA FRANCE translated the European Valuation Standards 2012 into French.

Other

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).

     
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TEGoVA FRANCE

The French TEGoVA member associations AFREXIM, CEF, CEIF-FNAIM, CNEI, CSN, IFEI and SNPI formed TEGoVA FRANCE. Its main goal is to work together to pursue and defend common interests.