Moldova to create council to oversee property valuers
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Real estate appraisers will be vetted by a special board. Will this change the market?

In Moldova, a Council will be created to verify real estate valuation reports and to sanction the specialists who carry it out. The development of such a project was initiated by the Agency of Geodesy, Cartography and Cadastre (AGCC).
Татьяна Шикирлийская Reading time: 2 minutes
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According to the Ministry, the need for such a structure is obvious. The idea is proposed to eliminate existing shortcomings in the current system of preparing such reports and to create an effective and unified institutional mechanism to control their quality.

In addition, the regulation and work of such a body will more clearly delineate the powers between the competent authorities in the field of assessment.

Strengtheningthe oversight system

According to the idea of the initiators, the activity of the Council will generally improve the quality of evaluation services in Moldova. Its competence will include both ensuring compliance with the current normative and methodological framework and strengthening the system of supervision and sanctions against the activities of appraisers.

The Agency of Geodesy, Cartography and Cadastre encourages all interested parties to participate in the elaboration of the document and to submit their proposals.

Earlier, Logos press presented the opinion of Dmitri Tărăburca, chairman of the Society of Independent Appraisers of Moldova: “The appraiser does not have access to the register of closed transactions with real prices. He works with listings – with ads for sale. That is, with the prices written by the seller. Prices that have no real buyer behind them. These are wish prices, not market prices.”

Errors in title and real estate boundaries

According to the specialist, commenting on the initiative of the Agency of Geodesy, Cartography and Cadastre to create a specialized council, today the majority of reports in Moldova do not meet international standards. Over 20% of them contain errors in terms of real estate boundaries and questionable ownership.

According to the specialist, “order does not start with inspections, but with the creation of a healthy environment in the market”. Therefore, he is skeptical about the creation of such a council and the effect of its activity and points out possible corruption risks.

“International experience shows that councils created on the basis of non-governmental associations work most adequately to improve the market,” notes Dmitri Tereburke. – Then they are more independent. Such a council has proven its effectiveness in Romania, for example, which we are trying to follow, and partly in Ukraine.



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