Red Book - Purpose, Application and Benefits
1.5 Hours Formal CPD
This class provides context for the Valuation Standards and why they are so important to Valuers and their clients worldwide. We will describe the fundamental principles underpinning their use and discuss the content, including the International Valuation Standards.
We will highlight key areas with brief case studies. There will be some interactive multi choice questions to check understanding.
Who Should Attend
- Commercial Valuers
- Residential Valuers
- Professionals working with Valuers: Administrator, Marketing
Pre-Class Reading Material/Post Reading Material
Participants should access the latest version of the Valuation Standards (online version) from the RICS website and have a quick look at the content. An awareness of the document would be helpful.
A presentation based session interspersed with anecdotal insight and multi choice questions.
- Objectives/ agenda – this is what we will be doing and why
- Context for the Red Book 2017
- Contents of the Red Book 2017
- Key changes from previous edition of global Red Book
- Changes to the UKVS layout.
- The international angle (IVS 2017)
- Conflict of interest
- Terms of Engagement - example
- Reporting - example
- Valuation bases
- Other areas – loan security, contamination, uncertainty