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Registered valuers not necessarily qualified

| 18/08/2014 | 0 Comments

(CNS Business): The Cayman Islands is the first county in the Americas where all valuations undertaken by chartered surveyors must be registered valuers, a scheme that was introduced by the local chapter of the Royal Institution of Chartered Surveyors. However, while the Valuer Registration scheme regulates valuation reporting standards, clients should be aware that this is not a qualification but a demonstration that a valuer is open to monitoring by the RICS.

It’s an excellent scheme because clients can be assured that standards are being upheld, Simon Watson of Charterland told CNS Business, but he pointed to “a flaw in the system”, which is that a number of valuers have been grandfathered into the scheme who are not necessarily qualified.

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Category: Construction, Local Business, Real Estate, Video

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