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Developing a European Framework for Valuation Standards (DEFVAS)

Under the leadership of IRRV (UK) and together with ANEVAR (Romania), PFVA (Poland), Registru Centras (Lithuania), and SNPI (France), TEGoVA won EU funding from the Leonardo da Vinci Programme “Developing a European Framework for Valuation Standards (DEFVAS)” which serves to help educate and train valuers in the application of European Valuation Standards.

Leonardo da Vinci Programme Transfer of Innovation

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Purpose

The purpose of this project is to invest resources in the preparation of detailed guidance notes and information papers to support European Valuation Standards, and to encourage best practice in valuation. A publication has already been produced which details valuation standards (known in the industry as the 'Blue Book'), but the partners wish to transfer this material and adapt it for use as training material in the different partner member states. The output will be a series of modules which will be a logical extension of the 'Book'. This will be achieved by expanding and updating sections, and, crucially, introducing local practice manuals and case studies as a series of papers, available online and in hard copy, which will enable the book to be used both in a training context and as a guide for professional practice in the industry.

Objectives

1. to improve professional standards within the sector;
2. to improve general skills levels of all people working in the valuation profession;
3. to enhance the links and cooperation between the different organisations in the project;
4. to increase employment opportunities for people working in the sector, especially transnationally;
5. to make an improved training model a reality beyond the period of Leonardo intervention;
6. in the longer term, the project will result in increased mobility of valuation professionals so that, subject to meeting local requirements, people working in one member state will be able to offer advice and services in relation to another without hindrance; and
7. to implement the idea of a trans-European vocational qualifications framework for European valuers.

Partnership

IRRV: The IInstitute of Revenues rating and Valuation (IRRV) is lead partner, and already has a well developed education department which offers its own training and qualifications, accredited by UK QCA. This role is critical to providing the necessary credibility, and it has developed innovative methods for the delivery of training and qualifications, which will be used to provide advice and support for practical implementation of qualifications development and accreditation at a European level.

the other Partners of the project are:

* ANEVAR: the National Association of Romanian Valuers
* PFVA: the Polish Federation of Valuers' Associations
* Registru Centras: the Lithuanian State Register of Property
* SNPI: the French Association of Real Estate Professionals
* TEGoVA: the Europen Group of Valuers' Associations

Target

* Professional valuer trainees and their employers who wish to offer an improved and more transparent form of training;

* Individuals who have an interest in valuation, either by virtue of the fact that they might be considering a career in valuation, or have an interest through working in local government; and
* Consumers, who have an interest in ensuring that they are being fairly assessed for local property-based taxes.

Conclusion

The partnership has an opportunity to make a huge contribution to valuation standards and practice internationally through the coordination of trans-European collaboration. The impetus has been created by the rapid expansion of the EU and the desire of all member states to become part of a European best practice and standards network, and the recognition by the Commission that Europe should have a powerful voice in this important area. The funding granted for this project will enable these plans and ideas to be implemented.

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DEFVAS Link

Clicking the link you will find the video of the Defvas presentation, the slides of a powerpoint presentation and the downloadable Defvas documentation.

You can also download the Practice Manual directly from the spot on the right side of the screen.