Real Estate Valuers

Valuer

Under Law 27 of 2017 Promulgating the Real Estate Sector Regulation Law and the Resolution concerning the regulation of real estate valuers (Resolution No. 2 of 2019), all Valuers operating in Bahrain must be licensed by RERA. A transition period will run until 2 November 2019 to allow real estate valuers to fully comply with the new regulations and apply for a Valuer license.

Implementation of the Bahrain Valuation Standards 

In line with implementing international best practice and increasing professionalism in the Bahrain real estate sector, RERA is pleased to announce the launch and implementation of the Bahrain Valuation Standards (BVS). The Bahrain Valuation Standards is a combination of the International Valuation Standards(IVS), The Royal Institute of Chartered Surveyors (RICS) Red Book and the principle law governing real estate in the Kingdom (Law 27 of 2017) and related regulations. As part of the Licensing requirement all Valuers must comply with the Bahrain Valuation Standards. RERA will arrange training courses and provide support to all Valuers to ensure the BVS are fully understood in order to ensure a smooth implementation of these world class standards. 

Bahrain Valuation Standards (BVS) – click here to view /download a copy of the Bahrain Valuation Standards.  

NOTE: An individual may not practice as both a Valuer and a Broker 

Please note under Law 27 it is illegal for the same individual to practice and hold both a real estate broker license and a real estate Valuer License. In the situation where a real estate business has an individual(s) holding a real estate broker license and other individual(s) holding a valuer license, it is not permitted that a valuer and a broker from the same business /practice /company act on the same property transaction(s).




Apply for a Valuer License as an Individual

Individuals can apply in person by completing the following forms /accompanying templates, attach the required support materials and submit All the documentation to RERA.

It is important to read the instructions carefully, to check the list of documents required and to have the documentation ready before commencing the applications process. The application process takes approximately five working days from submission of full and complete application.


Apply for a Valuer License as a Company

Companies can apply for a valuer license by filling the following forms and accompanying templates and submitting them to RERA

It is important to read the instructions carefully, to check the list of documents required and to have the documentation ready before commencing the applications process. The application process takes approximately five working days from submission of full and complete application. Unfortunately, incomplete applications cannot be processed .


Ongoing Obligations of Licensed real estate Valuers

The Ongoing obligations of the licensed Valuer includes the following:

  • Complying with the Bahrain Valuation Standards (BVS)
  • Complying with the RERA Code of Conduct.
  • Displaying Valuer License details in the office, on letterhead, website, digital communication, business cards etc.
  • A Valuer shall not represent a client if he has an interest in the activities of that client that limits the impartiality of the Valuer
  • Periodic reporting – the licensee must provide periodic reports to RERA of details of all contracts for real estate valuation.That Valuer Transaction Reports will include :    
  • names of parties;
  • date and term of contract;
  • nature of service provided;
  • contract price;
  • details of any disclosed conflict of interest.

Continuing Professional Development (CPD)

All license applicants must attend the RERA Mandatory Training which covers topics such as : Bahrain Valuation Standards (BVS), International Valuation Standards, IPMS awareness, professional and ethical standards (Day 1), Bahrain real estate Law & Regulations, plus assessment /Exam (Day 2). Upon successful completion of the mandatory training and assessment/exam , experienced valuers may elect an appropriate classification, noting RICS chartered valuers (or equivalent) will automatically be eligible for Tier A classification.

  • Classification D (Transitional & Full License) – Eligibility - The applicant must be literate. The applicant must have a minimum of 6 months practical valuation experience evidence by the provision of 5 Valuation reports (completed by him/her in the last 3 years) together with a letter from the applicant’s employer confirming his/her valuation experience or in the event of being self-employed a signed declaration of his/her valuation experience. The Applicant shall complete the Mandatory and Fundamentals of Valuation training and pass the baseline assessment. A certificate of successful completion will be given and will be required to be submitted to RERA. The Class D Transitional Licensee must submit a minimum of 10  BVS/IVS compliant valuation reports to RERA for assessment. These must be submitted within 12 months of receipt of the Class D Transition License and if approved, a Full Class D licence will be granted to the individual. Click here to view the template

    NOTE: In the event that the applicant does not meet the 6 months experience criteria he/she must complete the Mandatory Training, the RICS Valuation Fundamentals Training and pass the baseline exam BEFORE he/she is issued with a Class D Transition license.

  • Classification C - the applicant must have either completed the RICS Foundation Course in Property Valuation (or a RERA approved internationally accredited equivalent*),passed the assesment/exam and submit 5 BVS/IVS compliant Valuation reports for assessment, OR shall elect to undertake the Classification C assessment should the valuer believe they already have the appropriate competencies for this classification. For applicants who are directly applying for this classification, they shall provide a Certificate confirming completion of the Mandatory Training and Assessment.
  • Classification B - the applicant must have either completed the RICS Intermediate Course in Property Valuation (or a RERA approved internationally accredited equivalent*), passed the assesment/exam and submit 5 BVS/IVS compliant Valuation reports for assessment, OR shall elect to undertake the Classification B assessment should the valuer believe they already have the appropriate competencies for this classification. For applicants who are directly applying for this classification, they shall provide a Certificate confirming completion of the Mandatory Training and Assessment.
  • Classification A - the applicant must have either completed the RICS Competency Programme Course in Property Valuation (or a RERA approved internationally accredited equivalent*), passed the exam and submit 3 BVS/IVS compliant Valuation reports for assessment, OR shall elect to undertake the Classification A assessment should the valuer believe they already have the appropriate competencies for this classification.. For applicants who are directly applying for this classification, they shall provide a Certificate confirming completion of the Mandatory Training and Assessment.

Further Information

For further information on RERA CPD Programme for Valuers and to register directly click here , or send an email to the BIBF through the email: realestate@bibf.com.
For other
queries please send an email to info@rera.gov.bh

Licensed Valuers

Scroll down and right to see the table of licensed Valuers: