UK based RICS working with Israel to improve real estate standards
18-07-2012
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Apart from setting standards for valuers and real estate agents, the organisation is now helping the Israeli government to ensure building projects are safe and constructed according to the required building regulations for end users and clients.
In its latest visit to Israel, an RICS delegation comprising members of the Building Control Professional Group Board and RICS Director for Global Training met the Government with the aim to kick off a joint project between the Ministry of Interior for State of Israel and RICS.
The project is a fully customised ‘train the trainer ‘programme for building control systems, methods and techniques. It will provide detailed building control training which will be administered and overseen by experienced construction professionals, who will also monitor the recently approved new Building Codes and Standards.
This is part of Israel’s overall strategy to enhance and improve future construction work relating to all commercial, industrial and residential buildings. It is envisaged that the overall completion date of this phase of the training project will be September 2012.
RICS is convinced of the importance of life long learning to complement real estate professionals’ technical and professional qualification and to offer the best possible service to clients.
‘It's an exciting opportunity for RICS and the Israeli Government to work together in an important project across the land, property and construction markets,’ said RICS director of training, Pierpaolo Franco.
‘We are convinced that this agreement with the government to provide first class in house training to build control professionals will be beneficial for all, professionals, clients and society as a whole. We hope that this is the first step towards a long-term collaboration with the Ministry of Interior of Israel through which new training and advisory services will be provided,’ he added.
The organisation, in its mission to protect consumers and to increase clients’ confidence in the real estate markets, is actively encouraging professionals to adhere to a strict code of ethics and international professional standards. Across the globe, governments, businesses and key financial institutions are constantly recommending the use of RICS International standards and practices, including the RICS Valuation Standards (known as the Red Book) or the RICS Real Estate Agency and Brokerage standards (REABS).
Also the number of firms and individuals willing to benefit from the RICS label has not ceased to grow. Only in continental over 225 firms have signed up for the 'Regulated by RICS' designation in Continental Europe and there are 13,500 RICS registered valuers since September 2011 across all Europe.
In Israel, on March 2012, RICS decided to recognise the Israel Real Estate Valuers Board and allow members of the Israeli Association of Real Estate Valuers with at least five years seniority to apply for direct entry into RICS. This enables these members to benefit from an internationally established body of independent professionals.
‘With the increased concerns about the value of Israeli real estate companies with assets outside of Israel has led to a higher level of awareness on the part of banks and auditors that RICS registered valuers can bring consistency in reporting and valuation standards currently lacking in the market,’ said Adina Cooper MRICS, an Israeli Board Certified Valuer.
