RICS (Royal Institution of Chartered Surveyors) is the largest and most prestigious organization of real estate professionals in the world. Promotes good practice and consumer protection, both for companies and individuals, and offers independent and impartial advice to governments and global organizations. The RICS Valuations Department is a center par excellence for aspects related to valuation, and establishes the standards for all RICS members in the valuation activity, based on ethics, reality and objectivity.
At this time, almost no real estate operation is closed only based on traditional appraisal, although sometimes it is done for mortgage operations.
The official appraisals of banks are still official, but they are in accordance with banking regulations imposed by the Bank of Spain. They are executed by technicians and architects who lack experience in the real estate world, and direct knowledge of the market, they also need help from the real estate companies to generate their reports.
According to the methods that are applied, the appraisals can be higher or lower, but in almost no case they adjust to real values and for that reason they are less real than the Valuations.
A good valuation supports the planning of business management because it is real. A much faster sale can be achieved when the value is based on current, objective and real information.
When there is a rush to sell assets, value a company for a sale, demonstrate value before tax relief, etc... a RICS Valuation is the best tool to obtain that value.