Edition 2020 Ninth edition

1. Introduction
2. Scope
3. General
4. The Qualified Valuer
5. Commentary

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I.A. - EVS 3: The Qualified Valuer
European Valuation Standards 2020
1. Introduction
For a client to be able to rely on a valuation, it must be professionally prepared by 
a suitably skilled, competent, experienced and objective valuer.
2. Scope
This Standard requires that the Valuation Report be undertaken by a Qualified 
Valuer. All valuers contributing to a Report must have sufficient expertise and 
work to professional standards and, where considering valuation issues, must 
meet the expectations of this Standard.
3. General
3.1. 
A valuation must be undertaken by a Qualified Valuer delivering the professional 
skills, knowledge, competence and independence consistent with the require-
ments of EVS including the European Valuers' Code of Conduct. The work must 
meet the requirements of a professional service. Professional service determines 
that the skill, knowledge and competence of the valuer must be appropriate to the 
type and scale of valuation, with any factor which could compromise an objective 
assessment being disclosed.
3.2. 
The terms and conditions for the valuer's instruction should be agreed before un-
dertaking the valuation and set out clearly in writing before the valuation is report-
ed. Valuations which are to be in the public domain or which will be relied on by 
third parties are frequently subject to statute or regulation. There are often specif-
ic requirements that a valuer must meet in order to be deemed suitable to provide 
a truly objective and independent view. However, there are no specific statutory or 
regulatory criteria for most valuations and it will therefore be for valuers to satisfy 
themselves that they possess the requisite skills, knowledge, competence and 
independence for each instruction undertaken 
(see EVS 4 for further guidance)
.
3.3. 
In all cases the onus is on valuers to ensure that they are aware of potential con-
flicts of interest and ensure that they can meet the requirement of independence.

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European Valuation Standards 2020
I.A. - EVS 3: The Qualified Valuer
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4. The Qualified Valuer
(All references to 'valuer' in this book are to a 'Qualified Valuer')
4.1. 
Definition — A Qualified Valuer is a natural person, whether self-employed or em-
ployed by a valuation company or other legal entity, who is responsible for under-
taking valuations and who can demonstrate:
either:
•
A university degree, post graduate diploma; or
•
Other recognised academic or vocational certification relevant to property 
valuation that meets TEGOVA's Minimum Educational Requirements (MER) and 
having at least two years' professional experience in property valuation; or
•
Long term relevant professional experience.
4.2. 
Competence — Qualified Valuers are competent when they can demonstrate:
•
Sufficient experience in valuing real property in the location and category of 
the subject property or, having disclosed the insufficiency to the client before 
accepting the assignment, that they have obtained suitable assistance from 
competent and knowledgeable person(s);
•
Where required by home country national legislation or regulations, any 
required licence to practise as a valuer or membership of a profession-
al association;
•
Compliance with all legal, regulatory, ethical and contractual requirements 
related to the valuation;
•
That they will at all times maintain the highest standards of honesty and integri-
ty and conduct their activities in a manner not detrimental to clients, the public, 
the profession, or their respective national professional valuation bodies. It is 
mandatory for all Qualified Valuers and their representative professional or 
technical organisations to adhere to an ethical code that is as stringent as the 
TEGOVA European Valuers' Code of Conduct;
•
That they hold professional indemnity insurance appropriate to the valuation 
work undertaken (unless the Member Association does not require it);
•
They have maintained and enhanced their professional knowledge through a 
relevant programme of continuing education.

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European Valuation Standards 2020
4.3. 
Enhanced competence — Qualified Valuers reach this level when they can demon-
strate enhanced skills by:
•
Satisfying the requirements of TEGOVA's Recognised European Valuer (REV) 
programme; or
•
Satisfying the requirements of the TEGOVA Residential Valuer (TRV) programme.
(see Part V of these Standards and the TEGOVA website)
4.4. 
Recognised European Valuer (REV) — TEGOVA has developed the Recognised Eu-
ropean Valuer (REV) programme to enable individual valuers, through their profes-
sional associations, to have an enhanced status, over and above TEGOVA's Minimum 
Educational Requirements, to assure clients, especially from other countries, of 
their valuation expertise. The REV programme is summarised in Part V and its 
more detailed requirements are set out on the TEGOVA website, www.tegova.org.
4.5. 
TEGOVA Residential Valuer (TRV) — The TEGOVA Residential Valuer programme 
enables recognition of qualification, knowledge and professional experience for 
individual valuers undertaking residential valuations. Attainment of this recogni-
tion can assist in ensuring that "internal and external appraisers conducting prop-
erty valuations are professionally competent and sufficiently independent from the 
credit underwriting process so that they can provide an impartial and objective valu-
ation …" 
(Directive 2014/17/EU, Art. 19(2))
. The TRV programme is summarised in Part V 
and its more detailed requirements are set out on the TEGOVA website, www.
tegova.org
4.6. 
TEGOVA's Minimum Educational Requirements (MER) — As part of its education 
strategy of supporting standards of professional competence, TEGOVA sets 
Minimum Educational Requirements (MER) for its Member Associations to require 
of their qualified members so that they apply to every valuer elected to practice 
after 1 January 2003. TEGOVA's Minimum Education Requirements are summa-
rised in Part V and set out in detail on the TEGOVA website, www.tegova.org.
4.7. 
Continuing professional development — Qualified Valuers must maintain their ex-
pertise by keeping up to date with all relevant developments, whether legislative, 
technical or otherwise, affecting instructions to be undertaken so that they con-
tinue to have the commercial and professional expertise for the preparation and 
provision of valuations.

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