Three services, one discipline.
REV supports valuation, underwriting and investment decisions where the conclusion has to be traceable, challenged and defended. The three services below are usually combined, but each can be engaged on its own.
Independent senior review for pricing, acquisition, disposal and financing decisions, with documented comparable evidence and assumptions isolated and sensitised.
Prioritisation, segmentation and risk identification across fragmented portfolios, including REO and NPL collateral, with every data correction logged and auditable.
Committee papers, executive reporting and assumption logs built for the people who will read, question and defend the decision — and for whoever revisits it later.
When an independent review is needed
Most valuation work is not commissioned because nobody has a number. It is commissioned because the number that exists cannot be defended: the comparable set is undocumented, the adjustments are unexplained, or the assumption driving the result was never made explicit.
That becomes visible at the point of decision, when a committee, a lender or an auditor asks how the conclusion was reached rather than what it was. An independent review is worth commissioning when the decision carries consequence and the reasoning has to survive scrutiny by someone who was not involved in producing it. That is a different test from accuracy, and it is the one most valuation outputs fail.
RICS valuation versus value opinion
Not every decision needs the same instrument. A screening exercise across a fragmented portfolio does not require Red Book compliance, and paying for it consumes budget without improving the decision. Equally, a triage opinion cannot carry formal reliance, and using one where reliance is required creates exposure rather than removing it.
REV scopes the deliverable to the decision: a value opinion for triage; a full valuation report with methodology and audit trail where client reliance is needed; a RICS Red Book valuation where the standard, the addressees and the compliance requirements matter; and modelled AVM output within screening, never as a valuation. Standard, purpose and level of reliance are agreed in writing before work begins. Where the decision changes — a screening becomes a bid, an internal review acquires an external addressee — the deliverable is escalated rather than reinterpreted.
How an engagement is structured
Every engagement runs through the same sequence: scope, evidence, calibration, senior review, decision-ready output. Purpose, basis of value and reference date are agreed before anything is analysed. Comparable transactions and market signals are gathered, documented and tested for relevance. Adjustments and assumptions are set with the rationale recorded rather than implied. Conclusions are examined against the evidence, with particular attention to the assumptions that drive the outcome.
Engagements are led and reviewed by senior valuation experience throughout, with no delegation of judgement to junior teams or automated models. Findings are delivered in a form that can be read, questioned and defended.
If you are working on a decision that will have to withstand scrutiny, we would be pleased to hear from you.
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