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The Irish Auctioneers & Valuers Institute represents c. 2,000 qualified auctioneers, estate agents, valuers and property professionals throughout Ireland and abroad. The Institute was first registered as a company in the Republic of Ireland in 1922. In 1957 the current Grade One Listed headquarters building at 38 Merrion Square, Dublin was acquired. Considerable effort has gone into maintaining this prestigious building, which is one of the The Irish finest examples of Georgian architecture in the capital. Auctioneers and LEGISLATION The IAVI was instrumental in the enactment of the Valuers Institute primary Act governing the profession, the Auctioneers & House Agents Act, 1947. Legislation to formally establish the Property Services Regulatory Authority is expected to be passed early in 2009, some three years behind schedule. This legislation will introduce licensing for all firms and practitioners, with minimal educational, Professional Indemnity Insurance and CPD. Requirements. EDUCATION Prospectus of The IAVI has provided substantive courses of education since 1964, with successful completion becoming Educational mandatory for membership in the early 1970’s. The current entry programme for IAVI membership is organised and administered by the IAVI and carries an Courses Honours Bachelor of Science degree in Property Studies from DIT. The Institute also recognises full-time degree Providing the courses at DIT, LIT, GMIT and UUJ.. A part-time programme leading to Associate Membership Academic is now delivered over a 2-year period. Requirements for As part of their commitment to life-long learning, IAVI members have accepted a Continuing Professional Development requirement of 60 hours in any given three- Membership year period. IAVI WEBSITE Following its launch in February 2007 the IAVI website has been modified in both content and design. The homepage was redesigned during the year to reflect the new logo strapline. Sections of the public area were expanded to include additional information. In the members’ area an important development was the August 2008 introduction of a technical support facility which allows members to email the Institute with a specific problem or issue which requires assistance. Also added to the members’ area was a new CPD section which includes a test facility to view CPD seminars online. The online facility is being streamlined at present and will include the facility to pay for both booking attendance at seminars and viewing seminars online. It is envisaged that this facility will be available early in 2009. A discussion forum will also be ready to roll out before the end of the year. A new student site was developed during the year. It MEMBERSHIP: provides valuable information for college students and Persons intending to apply for membership of the IAVI students participating in the IAVI/DIT courses. must satisfy one of the following conditions: - have successfully completed a recognised Property The website is a “work in progress” project and further Degree course and have at least one year’s approved refinements will be added as necessary. practical experience. - have passed all required subjects of the IAVI/DIT BSc (Hons) in Property Studies and have appropriate VOLUNTARY COMPENSATION FUND practical experience. In 1977 the IAVI established a voluntary compensation - hold a professional qualification recognised by the fund, which now offers extra protection to the public IAVI and have appropriate practical experience. paying deposits on real property transactions in Ireland to an IAVI Member Firm. The fund provides cover for up to ASSOCIATE MEMBERSHIP €63,487 in the case of each claim with a cap of €190,460 Persons intending to apply for associate membership must in total per IAVI Member Firm. This represents 15 times have passed all subjects in the Residential and Land the High Court Bond required by current legislation. Agency Course or its successor, the IAVI/DIT Higher Radical changes to the protection of client funds are likely Certificate in Property Studies. in anticipated legislation. FULL-TIME 4-YEAR PROPERTY DEGREE COURSES MEMBER FIRM STATUS Appoved Property Degree courses in Ireland are: IAVI Member Firm Status is generally available to i. BSc (Hons) in Real Estate practices where at least 51% of beneficial ownership is 4-year sandwich course at Limerick Institute of held by individual IAVI members or associate members. Technology, Moylish Park Limerick. Members who believe their practice would qualify for (CAO/CAS No. LC481). Tel: (061) 208 208. IAVI Member Firm status, which carries many benefits, www.lit.ie should contact the Institute for an application form. ii BSc (Hons) in Property Economics, (Valuation Surveying) LICENCE AND P.I. INSURANCE 4-year course at Dublin Institute of Technology, All firms with an IAVI Principal must produce evidence of Bolton Street, Dublin 1. both Professional Indemnity cover and a current licence to (CAO/CAS No. DT110). Tel: (01) 402 3000. the Institute. www.dit.ie INTERNATIONAL AND OTHER BODIES iii BSc (Hons) in Property Studies 4-year course at Galway-Mayo Institute of The IAVI is a member of: Technology, Dublin Road, Galway. ICREA – The International Consortium of Real Estate (CAO/CAS No. GA443). Tel: (091) 753 161. Associations www.gmit.ie FIABCI – The International Real Estate Federation EPAG – The European Property Agents’ Group iv BSc (Hons) in Property Investment and Development IVSC – The International Valuation Standards Committee 4-Year sandwich course at University of Ulster TEGoVA – The European Group of Valuers’ Associations Jordanstown, Newtownabbey BT37 0QB. PARN – The Professional Associations’ Research (UCAS Code KN42 J BSc/PID BSc (Hons) Property Network Investment and Development). Tel: (048) 90365 131. IIPA – Irish Inter-Professional Association. www.ulster.ac.uk And has a bi-lateral co-operation agreement in place with The courses at Limerick Institute of Technology, Galway- the National Association of Realtors in the United States Mayo Institute of Technology and University of Ulster and a twinning agreement with the Chicago Association of Jordanstown comprise two years full-time study, followed Realtors. by a ‘sandwich’ year of work experience placement. The fourth year is spent back in full-time study at the College ISO 9001:2000 STANDARD and includes the submission of a major dissertation. In keeping with its policy of maintaining the highest standards, the IAVI has secured the internationally The Degree course at Dublin Institute of Technology, recognised ISO 9001:2000 Standard through SGS for all of Bolton Street, comprises 4 years full-time study at college. its operations. FULL-TIME 3-YEAR ORDINARY DEGREE COURSE BSc (Real Estate) in Auctioneering and Estate Agency 3 – year course at the Dublin Institute of Technology, Bolton Street, Dublin 1. (CAO/CAS No. DT104). Tel: (01) 402 3000. www.dit.ie ENTRY TO THE COURSES A large number of applications are usually made annually to the colleges for places on their property courses. In the Republic of Ireland, the application procedure for the courses is channelled solely through the CAO/CAS office, Tower House, Eglinton Street, Galway. (Tel: (091) 563 269). www.cao.ie Second Year: Law, Construction Technology, Property For the University of Ulster the application procedure is Management and Marketing, Quantitative Methods, through UCAS. (Tel: 0044 142 222 444), Valuations, Planning Economics. www.ucas.ac.uk . Third Year: Law, Taxation, Investment Analysis and Financial Accounting, Planning, Urban Economics, ADMINISTRATIVE COURSE Valuations, Maintenance of Buildings. During this year There is also an IAVI approved full-time course in students may undertake a major integrated project on property administration:- the ‘FETAC Certificate in urban renewal and development. Year 3 is a ‘sandwich’ Business StudiesBBSXX Auctioneering, Estate Agency year on most courses. and Valuation. Details are available from the Ballsbridge Fourth Year: Planning, Urban Economics, Valuations, College of Further Education, Shelbourne Road, Dublin 4. Investment Analysis. In the fourth year each student (Tel: (01) 668 4806). www.balllsbridgecollege.com. prepares a major dissertation as part of the final examination. Students who successfully complete the above course and secure full-time employment in a property-related 3-YEAR DEGREE COURSE environment may progress to the IAVI/DIT Higher The subjects studied on this course and their allotment Certificate in Property Studies. (See under Part-Time between each year will be something on the following Courses). lines:- Year One: Principles of Valuation, Building Construction, Students who achieve a distinction in the Agency Practice Law 1 (Introduction, Law of Property, Law of Contract), subject on the Business Administration Course may be Quantitative Methods 1 (Mathematics of Finance, given an exemption from the Residential and Land Agency Computer appreciation), Financial Management, Practice examination in Year 1 of the Higher Certificate in economics, Complementary Studies (Architecture, Property Studies, subject to certain conditions. Furnishings, Social Psychology). Year Two: Applied Valuations Property Management, FULL-TIME COLLEGE COURSES – SUBJECTS OF Professional Practice Procedure, Building Construction, STUDY Law 2 (Local Government, Landlord & Tenant Contracts PROPERTY DEGREE COURSES & Conveyancing), Quantitative Methods 2 (Statistics, A ‘typical’ course outline, with the subjects studied, is as Analysis, Financial Mathematics), Planning (Techniques, follows (note that this is only for illustrative purposes and Procedures & Statutory Background). the structure of individual degree programmes will vary Year Three: Advanced Valuations, Property Investment & from this.): Development, Property Marketing, Rural Resources First Year: Urban Sociology, Economics, Quantitative Evaluation (Agricultural Property, Forestry, Minerals, Methods, Valuations and Professional Development, Land Land Leasing & Taxation). Surveying, Construction Technology, Law. The points requirement (first round) for the 2008/2009 first year were: DIT Bolton St. – BSc (Hons) in Property Economics (Valuation Surveying) – 360 DIT Bolton St. BSc in Auctioneering, Valuation and Estate Agency – 300 Limerick Institute of Technology, BSc (Hons) in Real Estate (Property Valuation and Management), – 310 Galway-Mayo Institute of Technology BSc (Hons) in Property Studies – 340 University of Ulster Jordanstown Degree BSc (Hons) in Property Investment and Development – 320 UCAS Tariff Points. IAVI APPROVED PART-TIME COURSES YEAR 2009/2010 There are two part-time courses organised directly by the IAVI in the Republic of Ireland and one offered directly by the Dublin Institute of Technology, (DIT). Graduates of the IAVI/DIT BSc (Hons) in Property Studies and the DIT MSc in Real Estate are eligible to apply for IAVI membership. The IAVI/DIT Higher Certificate in Property Studies, satisfies the academic requirement for associate membership of the Institute. Associate members can and should progress to membership by completing the BSc (Hons) in Property Studies. BSc (Hons) in PROPERTY STUDIES The BSc (Hons) in Property Studies is a four-year part-time degree programme at honours level. The programme (which includes Saturday lectures) is presented at the Dublin Institute of Technology Bolton Street, one of the leading third level colleges for educational courses in property in either Ireland or the UK. To be eligible for entry to the programme candidates must either: (a) Hold a University Degree, a National Diploma, or equivalent qualification, (ie NQAI levels 7 or 8 or equivalent) or (b) Have passed all subjects in the old IAVI Residential and Land Agency Course, or (c) Have a minimum of 5 years relevant experience in the property profession and be at least 23 years of age, or (d) Have successfully completed the IAVI/DIT Higher Certificate in Property Studies, or (e) Have passed all subjects in the old IAVI Direct Final Examinations Course. (f) Hold the DIT Ordinary Degree in Auctioneering, Valuation and Estate Agency from DIT or the Diploma in Property Studies from GMIT or LIT. Those candidates fulfilling (a), (b) or (c) above will be eligible to enter the Course in Year 1. Those fulfilling (d) above will be eligible to enter the programme in Year 2. Thosefulfilling (e) above will be eligible to enter the Course in Year 3. Those who qualify under (f) but who have obtained a Merit or Distinction in the DIT 3 Year Ordinary Degree Course in Auctioneering and Estate Agency may enter the course in Year 4. All candidates must, at the time of application and throughout the duration of the course, be in approved property employment. COURSE CONTENT Subjects of the BSc in Property Studies include: Year One Valuations I, Law I, Economics for Property and Construction, Estate Agency Marketing and Management Year Two Valuations II, Law II, Urban & Rural Planning, Building Construction Year Three Valuations III, Law III, Financial Management, Building Construction Year Four Valuations IV, Integrated Applications, Urban Land Development, Feasibility Study*, Dissertation* * to include research methods workshop AWARD Graduates of this course will receive a BSc (Hons) in Property Studies from DIT. FEES The course fee for the 2008-09 academic year is €2,950 which includes study packs, and student support. (Fees qualify for income tax relief at the standard rate). MSc in REAL ESTATE The MSc in Real Estate is a part-time degree at the Masters level. The programme is presented at the DIT, Bolton Street over five semesters, of which there are two per year. The final semester is devoted to the Dissertation. Lectures are presented on two afternoons and evenings per week. ENTRY TO THE PROGRAMMME To be eligible for entry to the programme, candidates should have a primary degree of second class honours, lower division, (2:2) or above. Further information on this programme is available from the DIT, (www.dit.ie). Telephone 01-4023675 pr 01-4023942. The programme number is DT 124. HIGHER CERTIFICATE IN PROPERTY STUDIES. The IAVI runs this two year programme, successful completion of which allows students to progress to Year 2 of the IAVI/DIT BSc (Hons) in Property Studies. Applicants for the programme must work full-time in a suitable property related employment. The academic requirements for enrolment are passes at Leaving Certificate at ordinary level in English and Mathematics, unless the applicants have at least five years relevant experience and are aged 23 or over, when they are eligible to apply as mature students. Graduates of the FETAC course of the Balllsbridge College of Business Studies, (see earlier) are exempt from the Maths and English requirement. Lectures take place on 14 Saturdays plus an induction day. Lectures are held at the Dublin Institute of Technology, Bolton Street. In addition to the lectures, attendance at which is compulsory, students must complete projects, read support papers and attend locally arranged study groups. The subjects in Year 1 are Irish Law and the Estate Agent, Mathematics for Valuation, Estate Agency Practice, Building Construction, Rural Resources, Economics and Planning. In Year 2 the subjects are the Economics for Property & Construction, Law, Valuation and Estate Agency Marketing & Management. Students who achieve a Distinction in the Agency Practice subject on the Business Administration Course, may be given an exemption in the Agency Practice examination in Year 1 of the course. The fee for the Higher Certificate in Property Studies for the 2008-09 academic year is €2,950. (Fees qualify for income tax relief at the standard rate). Students who successfully complete this course are academically qualified to apply for associate membership of the Institute. IAVI MEMBERSHIP THROUGH OTHER ROUTES – ARE THERE ANY OTHER QUALIFYING COURSES? PROFESSIONAL QUALIFICATIONS Not in the Republic of Ireland – there are no other It may be possible to become a full member of the IAVI property-related courses in this country which carry IAVI without any examination if you hold a professional recognition. Indeed, the IAVI has been refused the qualification from certain bodies. opportunity to assess for accreditation purposes property At the Institute’s sole discretion, IAVI membership may courses at Senior College, Dun Laoghaire and the College be granted to corporate members, fully qualified by of Commerce, Morrison’s Island, Cork. Students entering examinations (GP, P&D, or LA divisions), of the Royal these courses should therefore understand that the IAVI is Institution of Chartered Surveyors (RICS) (by traditional not in a position to grant any credits towards membership examination only). in respect of their studies. Anyone holding a professional qualification other than Thus applications for membership or associate those above who wish to apply for membership of the membership of the Institute by Irish graduates can only be IAVI should contact the Institute at 01-6611 794 considered from those who have successfully completed the various courses outlined in this Prospectus. FOR FURTHER DETAILS ON THE IAVI’S APPROVED COURSES CONTACT DR. PAUL KELLY, ACADEMIC DIRECTOR TELEPHONE: (01) 6611 794 Office Hours – Monday to Friday 9.30 am – 1.00 pm; 2.15 pm – 5.30 pm E-mail; email@example.com OR WRITE TO: Irish Auctioneers & Valuers Institute, 38, Merrion Square, Dublin 2, Ireland.
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