Colliers Asia is leading the way in raising standards in valuation as the first regulated firm to register all its valuers for RICS Valuer Registration across the region. The RICS Valuer Registration scheme ensures consistent valuations, raises the credibility of valuers and provides the market with a clearly identifiable designation for the best-qualified professionals in the field.
Mr Piers Brunner, Chief Executive Officer, Asia, Colliers International, says, “Colliers International’s clients demand quality and consistency in all the services that we provide. 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 on July 4.
Another service excellence move
Colliers’ Registered Valuers will join the RICS global listing of more than 14,000 valuers; this status is shared with banks, lenders and insurers, cutting down on firm and member time providing this data.
Mr David Faulkner, Executive Director, Asia, Valuation & Advisory Services, Colliers International says, “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.”
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.