A “polarization in client requirements” is one of the trends in valuation seen by Ben Elder, the global director for valuation at the Royal Institution of Chartered Surveyors (RICS). Interviewed by Nick Talbot of the IVSC, Elder says some clients “just want the number produced at the least cost; others are demanding greater input from the valuer about what the numbers mean, particularly going forward in time.”  

Elder is the chair of the new IVSC Tangible Assets Board, one of several new boards that just went operational. Asked about the key challenges he faces relating to valuation, he says: “Change … change driven by technology and big data. The skill set of many valuers around the globe is being challenged as new sources of information become available. How we convert information into knowledge is critical to the profession.”

You can read the full interview on the IVSC website.

Extra: The new IVSC boards met for the first time last month in New Jersey. We hear that there will be a staff consultation paper issued very shortly.