The Future of Valuations

This insight paper examines the challenges facing the global valuation profession, drawing on the experience and opinions of an expert panel. It focusses on the two main issues of technological devlopments and changing client expectations.

Recommendations

Exploring technological developments (such as Automated Valuation Models, Big Data, Artificial Intelligence and Blockchain) as well as changing client expectations, including the future value of a building and taking into account sustainability, the paper gives a number of recommendations for further debate. These include:

• the need for valuers to update their skill set; 
• whether the valuer could, or should take on an advisory role next to the traditional role of providing a (market) value; and, 
• a plea for the development of data standards as lack of high quality and consistent data continues to be a source of concern.

We are grateful for the involvement and support of INREV (European Association for Investors in Non-Listed Real Estate Vehicles) and EMF-ECBC (European Mortgage Federation-European Covered Bond Council).

Through discussion to added value

This paper serves as the starting point of an industry-wide discussion. We look forward to bringing the debate to your country, including valuers, investors, banks as well as the PropTech sector. Only by continuing the discussion between providers of valuations and their clients can we futureproof the valuation profession and ensure a continued added value.