27 Apr COVID-19 Valuation Services Continuity Guidance
Like you, all of us at BCQS International are facing an unprecedented and rapidly evolving situation. COVID-19 has left all of us feeling unsettled, and in response, we have changed our daily routines and lifestyles to mitigate the further spread of the virus. There is still a great deal of uncertainty, and we would like to assure you that the health and wellbeing of our staff, clients and partners, and the communities in which we live are of the utmost importance to us. In response to the emergence of COVID-19 we have taken actions consistent with the guidance from the World Health Organisation (WHO) as well as local health authorities in our various locations in the Caribbean and Latin America. We have reinforced hygiene protocols, restricted business travel for our staff and suspended large in-person group functions. We’ve also taken numerous precautions to keep our various locations, staff and clients safe, and we are pleased to say that we remain fully operational at this time.
We continue to support all our clients and their needs through modified working practices. We have enabled and supported our team so they can continue to work productively through remote working where needed using our integrated technology and systems, including video conferencing and other collaborative tools.
We still have the ability to carry out valuations and reinstatement cost assessments given current social distancing and travel mandates. By leveraging technology, an on-site visit may not be required to provide you with an assessment of value. We are prepared to issue valuation reports on a desktop basis or where appropriate by utilising video conferencing and supplied information. To follow, we can complete on-site due diligence when possible if requested or required. We are confident that this approach will continue to provide the quality valuation service our clients are accustomed to.
With the ongoing and continued impact of COVID-19 and in accordance with RICS guidelines, we are conscious that market activity is being impacted in many sectors. Our valuations are therefore reported on the basis of ‘material valuation uncertainty’ as per VPS 3 and VPGA 10 of the RICS Red Book Global. Given the unknown future impact that COVID-19 might have on the real estate market, we recommend that you keep the valuation of properties under frequent review.
We are confident in the resilience of our business and our ability to continue to provide our full range of services throughout this period, whilst supporting the health and wellbeing of everyone. We remain committed to keeping you informed and to supporting our clients, partners and communities.
Please do not hesitate to reach out to us with questions or to seek perspective in understanding the impact of these critical issues on asset values. Please feel free to contact any one of our offices through email or phone. Refer to our Locations page for contact details.
On behalf of the BCQS International team, we are committed to working through this challenging time with you, and we hope that you, your families, colleagues and friends remain safe and healthy.Download >