IBERTASA QUALITY OF SERVICE

AENOR

IBERTASA obtuvo el sello de calidad de AENOR (Asociación española de Normalización y Certificación) en el mes de mayo del año 2004, mediante la certificación de un Sistema de Gestión de la Calidad conforme a la Norma UNE-EN ISO 9001:2008, con número de registro ER-0801/2004.

With this certificate of quality, IBERTASA guarantees total control over the valuation process.

INFORMATION SOURCES

Primary sources of market information is the data and samples collected during the preparation of valuations realized by IBERTASA along with data obtained from the Department of Analysis and Validation.

PRIMARY SOURCES OF INFORMATION.

The database available to IBERTASA relies on a stock of data of over 5,000,000 records obtained from all of the operations conducted since 1992. The main source supplying this primary database is the information gathered by the vast network of our company’s appraisers.

Market samples provided by appraisers are obtained in the field while performing the examination of the properties. Each sample has more than 50 fields or records (usable surface area, built surface area, year of construction, state of conservation, value adjusted to the environment, common services available... as well as the surveyed value and appraised value of the property).

IBERTASA regularly conducts mass market research studies, completing and comparing information supplied by appraisers.

IBERTASA, every year conducts more than 50,000 valuations (including valuations for mortgage securities and other purposes), collecting a minimum of 6 homogeneous samples of properties for each valuation within the immediate surroundings. The evolution of this information is updated at a pace of 300,000 records per year.

The purpose of this comprehensive analysis is to move the value “appraised” by the Company closer to the prices for the “closing of operations” for the purpose of keeping an adjusted and updated database with regard to the prices of actual transactions.

SECONDARY SOURCES OF INFORMATION

Information gathered in primary databases is complemented and compared with other sources outside of IBERTASA. This information is not used to ascertain the value in the reports but only and exclusively for the auditing and monitoring of valuations performed

        • RR de Acuña y Asociados: For over 25 years, this company has developed econometric models for real estate markets and implemented protocols for the cleaning and purging of databases. This allows not only for the issuing of the appropriate valuation, but also for the purging and standardisation of the supplied database.
        • Ministry of Public Works: Enquiries into the conclusions and price evolution in real estate markets, purchase/sale records and existing housing stock.
        • Cadastre: Enquiries into reports of current land values.
        • REAL ESTATE SITES: Through an automatic search engine, IBERTASA gathers information from the purchase/sale and rental advertisements of websites for real estate companies or agents. It has the most recent information on the current housing market within the real estate sector and its evolution.
        • IAEMI: External subscription database used when it is necessary to verify the consistency of the information gathered from the Primary Database

INNOVATION AND TECHNOLOGIES

  IBERTASA is committed to the implementation of new technologies, pursuing three main goals.

  1. Appraisal’s life cycle automation
  • Request for appraisals (XML files, web forms, …)
  • Incident management, automatic communication.
  • Definitive zoning classification (if it's a home subsidised by the state, VPO).
  • Help during the validation process, automatic reports on market data.
  • Handover to the client (PDF files, XML, …), automatic communication system.
  1. Management tools

The company’s management of appraisals requires the use of applications that guarantee:

  • Detailed monitoring of every appraisal conducted by IBERTASA.
  • Reports, statistics and analysis as a framework for future decisions.
  • The export of data as requested by financial supervisory bodies:
    • Bank of Spain
    • CNMV
    • AEV
  1. Safety and protection of the clients’ personal data.

All the data provided by our clients is managed by IBERTASA according to the Spanish Personal Data Protection Law. Back-up systems used by IBERTASA guarantee secure service and data management.

PROCEDURE

STEP 1

PHYSICAL INSPECTION OF THE PROPERTY

STEP 2

VERIFICATION OF DOCUMENTATION

STEP 3

MARKET STUDY

STEP 4

VALUE CALCULATION

STEP 5

ANNEXES

STEP 6

VALIDATION