According to property valuation standards, “The verification of a valuation is the process of developing an opinion on how it was prepared, as well as communicating this opinion, a process that is materialized through a written report.” Starting from this definition, the FairValue team has developed both an external verification service, which can be materialized through a verification report, and an internal procedure for verifying valuation reports prepared by the company’s appraisers, which is materialized through an additional objective analysis carried out by an experienced appraiser on the reasoning applied in a valuation report prepared by a colleague within the company.

External applicability:

‍Checking an evaluation report, according to the evaluation standards, by an authorized evaluator who holds the Evaluation Verification (VE) specialization, proven with the verifier's initials, materialized by a verification report, with a simple or extended objective.

Internal applicability:  

‍What, who, when, how and why is it analyzed? Some basic questions that can provide, through their answers, a picture of an internal review:

What?

·The documents that formed the basis for the preparation of the evaluation report;

·Data used in estimating values;

·Terms of reference used in preparing the report;

·The methods and approaches applied;

·The judgment applied by the evaluator throughout the entire evaluation process.

Who?

·A team member, usually an appraiser with experience and competence in the specific field of the respective valuation (real estate, movable property, businesses).

When?

·The role of the internal verifier appears in the last stage of the evaluation process, before the evaluation report is delivered to the client or user.

How?

·The verifier's intervention is materialized through a constant dialogue with the person who prepared the report, clarifying any aspect that may have influenced the estimated value, confirming the adequacy of the approaches applied and the accuracy of the results obtained.

Why?

·We have always believed that subjecting the valuation process to an additional filter leads to an objective result, an adequate estimate of value and an increased quality of the valuation report.