7 July 2014
Colliers Asia is leading the way in raising standards in valuation as the first Regulated Firm to register all its RICS valuers for RICS Valuer Registration across the region. The RICS Valuer Registration scheme ensures consistent valuations, raises the creditability of valuers and provides the market with a clearly identifiable designation for the best-qualified professionals in the field.
"Colliers International’s clients demand quality and consistency in all the services that we provide,” said Piers Brunner, Chief Executive Officer, Asia, Colliers International. “RICS Valuer Registration helps us demonstrate those attributes by adding external auditing by RICS to our already rigorous internal quality controls in the pursuit of service excellence."
What is RICS Valuer Registration?
RICS Valuer Registration demonstrates compliance with existing international standards. The initiative monitors all members who carry out valuations under Valuation Standards (the Red Book). As a firm which champions the Red Book, Colliers provides a regulated framework and practice guidance, including compliance with International Valuation Standards (IVS) that are recognised and adopted globally.
Valuer Registration, an RICS member driven initiative was a response to the 2008 global financial crisis. The monitoring system was first rolled out in 2009 across the UK to bring clarity and confidence to the market in a global environment. Since then, Valuer Registration has launched in the Netherlands, UAE and other markets. Hong Kong is the first Asia Pacific market to undergo full implementation of Valuer Registration which started July 4.
Another service excellence move
Colliers’ Registered Valuers will join the RICS global listing of over 14,000 valuers; this status is shared with banks, lenders and insurers, cutting down on firm and member time providing this data. “Compliance with international valuation standards is a cornerstone of any valuation business given the greater demands from cross-border investors, auditors and lenders who all require the comfort of knowing that valuations are being prepared to the highest standards,” said David Faulkner, Executive Director, Asia, Valuation & Advisory Services, Colliers International.
To ensure the best practice, RICS Registered Valuers and their firms are subject to professional, independent regulation. Valuations all over the world rely on competent and impartial valuers and Colliers Asia Registered Valuers exemplify the best level of ethics, valuation reporting and technical methodology across the region.
Confidence through professional standards
RICS promotes and enforces the highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure. Our name promises the consistent delivery of standards – bringing confidence to the markets we serve.
We accredit 118,000 professionals and any individual or firm registered with RICS is subject to our quality assurance. Their expertise covers property valuation and management; the costing and leadership of construction projects; the development of infrastructure; and the management of natural resources, such as mining, farms and woodland. From environmental assessments and building controls to negotiating land rights in an emerging economy; if our members are involved the same professional standards and ethics apply.
We believe that standards underpin effective markets. With up to seventy per cent of the world’s wealth bound up in land and real estate, our sector is vital to economic development, helping to underpin stable, sustainable investment and growth around the globe.
With offices covering the major political and financial centres of the world, our market presence means we are ideally placed to influence policy and embed standards at a national level. We also work at a cross-governmental level, delivering a single, international standard that will support a safe and vibrant marketplace in land, real estate, construction and infrastructure, for the benefit of all.
We are proud of our reputation and we guard it fiercely, so clients who work with an RICS professional can have confidence in the quality and ethics of the services they receive.