The Red Book Toolkit - A Masterclass on Valuation Methods & Reports

The Red Book Toolkit - A Masterclass on Valuation Methods & Reports

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Intermediate: Requires some prior subject knowledge
5 hours
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It is a mandatory requirement by the RICS that any chartered surveyor providing a written valuation report of real estate for clients must be registered for the RICS Valuer Registration Scheme and to be fully conversant with the requirements of the RICS Valuation - Global Standards (effective from 31 January 2022) known as the ‘Red Book,’ any relevant national standards and RICS Guidance, particularly that relating to valuation methods.

This in-person full day masterclass covers the requirements of the Red Book before considering valuation methodologies. There will be a particular focus on DCF methodology since it is now specifically required for undertaking all valuations of investment properties.

It will be of interest to all valuation surveyors including APC valuation candidates and valuers who undertake occasional valuations as well as those who regularly carry out valuations.

The session will be interactive and practical with participants encouraged to bring laptops to enable them to undertake valuations using spreadsheets.

What You Will Learn

This course will cover the following:

  • The mandatory requirements set out in PS1 & 2 and VPS 1 - 5 of the current Red Book
  • The effect of the national standards relative to global standards
  • The latest guidance from RICS as well as that set out in VPGA 1, 2 & 10
  • Using the three valuation approaches as defined in IVS and RICS Red Book
  • DCF methodology:
    • Choosing inputs
    • Arriving at a holding period
    • Assessing a terminal value
    • Choosing target rate to be adopted
    • Advantages and shortcomings of method
  • Potential problems producing valuation reports for various types of properties and specific client requirements