RICS Americas Valuation Council Creates New Platform: Boards Recommend Top Valuation Programs in Public Interest


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11/05/2009 19:07

New York, NY November 5, 2009 – As professional valuation associations increase their development of technical guidance and education, a critical need exists to compare, contrast and merge the output to ensure that appraisers are led by universal guiding principles and a single body of knowledge. The Valuation Council held by RICS Americas, appointed six discipline-specific boards to offer top recommendations on best technical practices and education.

“This is a historic time for RICS, ASA, ASFMRA and AI,” said Don Dorchester, FRICS, Chairman of the Valuation Council. “Many organizations are coming together internationally, abandoning their provincial backgrounds to better address the needs of a changed reality, and to cope with its demands.”

“The Council’s six boards will play an important role in alleviating confusion, misconception and chaos’ in the profession,” said Brian Glanville, FRICS, Chairman, Real Property Board of the Valuation Council. “Fractionalization of the appraisal associations has public consequence. Currently, a solitary organization can’t speak for the valuation profession, unlike accounting, law, engineering and medicine.”

Senior leaders of the valuation profession, including business executives, government officials, past association presidents and other eminent practitioners were chosen to participate on six discipline-specific boards that include:
  • Real property
  • Personal property
  • Plant and equipment
  • Business valuation
  • Natural resources
  • Public sector
“Members of the boards will shape, critique and influence matters with vast disparities such as global valuation standards and accreditation programs,” said Bruce Bingham, Vice Chairman of the Valuation Council. “A chief initiative is comparing the Red Book, USPAP and IVS and also identifying areas where we lack standards in an effort to clear the confusion among appraisers and users of appraisal services.”

RICS Americas and its Valuation Council pull together ideas and suggestions from local and global appraisers in every valuation sector. The groups encourage participation from thought-leaders in valuation that holds interest

in advancing the profession and serving the public. To learn more about the Valuation Council, visit ricsamericas.org.


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About RICS & RICS Americas
RICS (Royal Institution of Chartered Surveyors), with headquarters in London, is the leading organization of its kind in the world for more than 100,000 professionals in property, land, construction and related environmental issues.

RICS Americas, based in New York and covering North, Central and South America and the Caribbean, has more than 3,000 members in commercial and residential development, construction and project management, brokerage, planning and finance, valuation and fine arts appraisal. For further information, visit www.ricsamericas.org or e-mail ricsamericas@rics.org.

Related Article: Global Professional Body Launches Valuation Council for the Americas to Assist Financial Recovery