President of NAVS will deliver a presentation on new EVS 6 and EVGN 11 in Warsaw

Danijela Ilic, FRICS, REV president of NAVS and member of the TEGoVA Board will deliver a presentation on new EVS 6 and EVGN 11, at the conference “European Valuation Standards with a focus on statistical methods of property valuation” which will take place in Warsaw on 27th February 2018. Danijela Ilic is the leading author of EVGN 11 .

 

Full text of EVS 6 and EVGN 11 in English you can find at www.tegova.org, and translation on Serbian language can be required at the NAVS Secretariat at office@procenitelji.org.rs

NEW EUROPEAN VALUATION STANDARD AND GUIDANCE NOTE ON AVMS

EVGN 11 The Valuer’s Use of Statistical Tools

EVS 6 Automated Valuation Models (AVMs)EVS 6 Automated Valuation Models (AVMs)

 

On Saturday 28 October in Marseille, the TEGoVA General Assembly, by near-unanimity, approved the European Valuation Standard EVS 6 “Automated Valuation Models (AVMs)” and European Valuation Guidance Note EVGN 11 “The Valuer’s Use of Statistical Tools” and rendered them immediately operational.

They are now an integral part of European Valuation Standards.

European Valuation Standard 6

AVMs cannot be used to produce a valuation report that complies with EVS independently of a valuation process founded, inter alia, on inspection of the property by the valuer and the application of valuation judgment by the valuer.

Where used, an AVM is never more than a tool contributing to the valuer’s estimation of value, for which he remains responsible.

EVGN provides guidance on:

• Preconditions for the use of AVMs
• Limitations on the use of AVMs once the preconditions have been met
• Portfolio valuation

There will be analysis and commentary in the January edition of European Valuer.

 

Danijela Ilic, FRICS, REV

Member of the TEGoVA Board

Member of the TEGoVA European Valuation Practice and Methodology Board (EVPMB)