REV AND TRV The Key to Valuers in Europe – Wide Professional Recognition Roger G. Messenger BSc (Hons) FRICS FIRRV MCIArb (Hons) MIPAV REV Hon. CAAV RICS Registered Valuer Vice Chairman, TEGoVA Chairman of REV Recognition Committee Wilks Head & Eve rmessenger@wilks-head.co.uk

REV – Recognised European Valuer TRV – TEGoVA Residential Valuer - WHAT DOES IT BRING?

CLIENT: – Confidence in ability and experience Adherence to recognised European Valuation Standards Compatibility cross-border The best possible solution to reduce RISK

VALUER: – Recognition of ability and experience Additional credibility both in domestic and international markets Competitive advantage Ability to offer a quality service that has been recognised

REV: – Victim of its own success Valuation company elites want to keep a small “elite” valuer community ASAVAL taking the much more open and desirable approach of awarding REV to those who qualify and deserve. Very much applauded.

CLIENT PERSPECTIVE: – Banks are increasingly demanding REV Cedric who follows – we will vouch for that in France. Even London, the stronghold of RICS, is changing, with Clients increasingly recognising REV.

We all know standards are a good thing and with a more integrated European property market, EVS continues to grow in importance and logically qualifications should grow alongside that. The European Valuation excellence is all about REV.

REV is the opportunity for smaller firms of valuers and SME property advisers to compete with the large multi-national property advisory firms. Krzysztof Grzesik and indeed my own Practice is testament to this.

SO WHAT OF PORTUGAL, THEN? Big turnaround in the fortunes of Portugal – outward-looking Great public finances and a competitive workforce. Real estate is reactive to the economy and the economy is doing well. There should be volume work in the property profession as a result, in the Portuguese residential market,. Hotels and also in Lisbon and Porto – commercial property. A real opportunity for REV valuers.

To assist the REV and TRV, we have put together the requirements of a Valuation Report for an REV to use. A continuation of what looks good. For the first time, we are also progressing this for TRV and we are at ‘draft’ stage.

TEGoVA can deliver the tools for the Valuer TEGoVA can deliver the tools for the Valuer. Other standard-setters need to watch in awe! STANDARDS METHODOLOGY REPORT CONTENTS REV TRV YOU deliver the quality!

THANK YOU! Roger G. Messenger BSc (Hons) FRICS FIRRV MCIArb (Hons) MIPAV REV Hon. CAAV RICS Registered Valuer Vice Chairman, TEGoVA Chairman of REV Recognition Committee Wilks Head & Eve rmessenger@wilks-head.co.uk