Added value on multiple levels
TEGOVA certification offers concrete benefits for real estate experts and clients. For clients, this certification means security and quality above all. The European Valuation Standards (EVS) guarantee a correct working methodology that is applied inter-European and updated on a regular basis. Keysers explains: ‘Thanks to TEGOVA, we deliver quality valuation reports that are not only experience and market-based, but also meet the strictest standards and guidelines at national and international level.'
For valuation experts, TEGOVA provides a platform for knowledge sharing and community, e.g. through monthly meetings where best practices and training are given, such as on 4 September at BDO in Zaventem. This community also extends to a European level with two international meetings per year. ‘The contact with TEGOVA members from all over Europe is valuable’, Keysers said. ‘Especially since we also have an international network at BDO - these connections reinforce each other.’
Finally, banks are attaching increasing importance to these quality labels. For instance, they set TEGOVA (European) or RICS Commonwealth as a condition of accreditation. This institutional recognition highlights its growing relevance.
Investment in professionalism
The path to TEGOVA certification is more than just a formality. Candidates must demonstrate at least five years of relevant experience, with a focus on non-residential real estate. ‘The accreditation process itself consists of three phases: an intensive one-day or 2-day training course, the preparation of two comprehensive valuation reports in accordance with TEGOVA Blue Book guidelines, together with a list of 20 valuations carried out over the past 2 years, and an oral examination during which these reports are explained and knowledge of the Blue Book is tested’, Dierckx said.
The recognition remains valid for five years, reflecting the dynamics of the field. The Blue Book is updated on a regular basis.
Navigating market dynamics
Quality standards such as those set by TEGOVA are crucial in constantly evolving real-estate market. For instance, technological innovations such as Automated Valuation Models (AVMs) are influencing valuations, especially residential valuations. Speybrouck sees this as a catalyst for specialisation: 'By using AVMs, the valuer is in a better position to carry out analyses, provided the data is entered correctly. A shift from the mathematical comparison method to an analytical comparison, using more parameters, is obvious.’
For complex, non-residential valuations - such as industrial complexes - human expertise remains essential. ‘Analysis is the most important factor’, Speybrouck stresses. ‘This concerns not only the object - material knowledge, construction - but also the market and points of comparison. In non-residential real estate, every position matters and must be correctly argued.'
Future prospects
The growing range of AVMs will force experts to work together more. Banks are reinforcing this by considering only a few firms as permanent partners - one point of contact, one financially negotiable partnership. This will be strongly felt in both residential and non-residential valuations.
Speybrouck’s vision is clear: 'The biggest challenge for valuers is to better arm themselves professionally through additional training and accreditations. The banks are also demanding this, but unfortunately are not yet taking full advantage of this, either in terms of recognition of certain groups or financially.’
An invitation to excellence
TEGOVA represents more than a certificate - it is a commitment to continuous improvement. In a market evolving from local to international, from intuitive to data-driven, from individual to collaborative, TEGOVA provides a compass for navigation.
For real estate professionals looking to invest in their future, the message is clear: TEGOVA stands for quality and recognition. It is up to all members and valuation experts to promote this recognition to banks and clients.'
The road to recognition may be challenging, but the destination is well worth the journey. Thanks to TEGOVA, BDO relies on international standards for its clients combined with local expertise. For the industry, it represents a step towards a more professional, transparent future.
