Real Estate Appraisal and International Valuation Standards

The worldwide trend towards globalization of Businesses has pushed the need for International Standards in every sector of business. For the Appraisal and Valuation profession it has lead to the introduction of International Valuation Standards IVS. The paper is focused upon what stakeholders of valuations within a country might expect from the IVS when it will be introduced. It starts off with an overview of the work of the IVSC, followed by an explanation about the way in which the implementation process in the Netherlands is taking place. Aspects about how to deal with introduction, awareness, lobbying and education of the IVS in a country will be given. The paper will end with conclusions and recommendations for other countries who wish to implement the IVS.