March 23, 2020

The Covid 19 pandemic and the reactions of markets and governments is creating a huge challenge for valuers.  While the virus may not be exactly unprecedented as is often claimed, the other “U word”, uncertainty, definitely is appropriate.  The IVSC has issued a statem...

October 22, 2019

Whether Sir Arthur was talking about his profession as a medic or that of his fictional protagonist is unclear.  However, I fear that the best part of a century after his death he could well have been talking about the valuation profession.  Despite there being more da...

January 24, 2019

The RICS recently took the unusual step of issuing a “Valuation Notification” in relation to the UK retail property market.  This has resulted in some less than helpful press comment and I have met a number of valuers who are unclear as to the implications on how they...

January 10, 2019

The global economic indicators are flashing amber warnings in many markets as the near decade long bull run in equities has come to an abrupt halt and the support given to asset prices through unprecedently low interest rates and central bank purchases winds down.  Cou...

January 7, 2019

In the early 1990s international agreement on what Market Value represented was widely recognised as essential for cross border trade and investment. Two groupings of the then recently formed organisations from most of the major economies, the International Valuation S...

October 8, 2018

The International Valuation Standards (IVSs), and other standards based on them such as the RICS Red Book, require the disclosure of any material uncertainty that affects the reported valuation.  Despite the guidance that exists on what constitutes material uncertainty...

July 24, 2018

One of the most common complaints I have heard from real property valuers over the past twenty years or so is that THEY are insufficiently valued, in other words fees are too low for the expertise and risk involved.  While changes in technology and procurement have cre...

June 7, 2018

Fair is a tricky word, no more so than in a valuation context.  Even if one ignores some of the obvious homonyms of fair, it is still capable of quite different interpretations.  Is “fair value” a value which is equitable, impartial and unbiased?  Is it a value which t...

May 25, 2018

The Court of Appeal finds that fairness is not necessarily in the eye of one party in LBI EHF v Raiffeisen Bank.

February 1, 2018

Valuers following valuation standards such as the IVS or RICS Red Book will be aware of the need to prepare Terms of Engagement (ToE) setting out the key aspects of the valuation.  However, having seen many different approaches to presenting these terms I have conclude...

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