Well, it looks like I’m going back to school. To become an appraiser – something I’ve already been doing for years!
Why?
Well, in any field, I believe it’s important to make sure that you’re not just doing the same thing year after year. You have to keep your ear to the ground and stay in touch with changes not just as they happen, but before they happen.
So even though I’ve been a real estate appraiser and tax attorney for over ten years, there are rumblings of change in the real estate industry. That’s true both here in Israel and all over the world. Big changes. Huge changes.
You may have heard that real estate is a $217 trillion global industry. But up until now, that industry has been almost painfully local. Attorneys, appraisers, and agents in one area may know their stuff, but they don’t really know much about real estate assets, projects, and properties in other areas. That’s true whether we’re talking about from one country to the next, one state to the next, or even from one city to the next.
Until recently, this massive industry has been bought and sold in bits and pieces, with most of the world’s real estate completely inaccessible to most of its individuals and companies.
That’s what’s changing. And I think it’s going to be changing fast over the next few years.
Founded in 1868, the UK-based Royal Institute of Chartered Surveyors (RICS), is one of the oldest and most respected organizations working to promote and enforce strict international standards in the valuation, management and development of land, real estate, construction and infrastructure. Today, the organization has 125,000 professional members in nearly 150 countries.
We already live in a world where vast amounts of money can move from one region to another at the speed of light. Investments are more open than ever, with Asian and Middle Eastern individuals, companies, and funds investing heavily in properties in North America and Europe. And with the growth of blockchain technology, tokenization will open up investment even further.
Appraisal is the bedrock on which all real estate investment is built. And if that bedrock isn’t solid, the whole market could crumble.
RICS was among the first to recognize the need for global standards. They recognize that real estate valuation and appraisal professionals around the world must share common standards and ethical commitments to ensure consistent appraisal from place to place.
That’s why I’m proud to be going back to school, training with RICS to become an internationally-certified valuation professional.
RICS is here to help professionals like myself adhere to the highest international valuation standards. And that means I can keep growing in my field. I’m doing my best to help clients make wise real estate decisions – whether they’re looking at developments right around the corner or clear across the world.
If you have questions about international real estate, don’t hesitate to get in touch.
