Oireachtas Joint and Select Committees
Wednesday, 13 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Patrick Davitt:
There were discussions, yes. There were discussions about different groupings and different bodies. The most body that would be here in Ireland would be the English valuation standards of the RICS, or the Red Book, and, I suppose, members were trying to decide among themselves as to which standard would be good for them to have. And, I suppose, being honest about it there was no need to have a membership of any body, there was no need to certify your standards ... and standards we are talking about, not methodologies. There was no need to do that so, I suppose, valuers decided they wouldn't do it. But when I did become CEO of the institute, when I could do something about it I did something about it, and we joined TEGoVA, and not alone that but we have ... we have valuers now that are ... have the highest standing in Europe ... in recognised European valuer and now the new residential valuer. I know it's only two years ago but a lot of work has been done on it.