Real Estate Regulatory Authority (RERA) (2024)

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 announced the launch and implementation of the Bahrain Valuation Standards (BVS). The Bahrain Valuation Standards is a combination of the International Valuation Standards(IVS) on the 22 October 2019, The Royal Institutiom 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 requirements all Valuers must fully comply with the Bahrain Valuation Standards. RERA arranges training courses and provide support to all Valuers to ensure the BVS are fully understood in order to ensure smooth implementation of these world class standards.

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

RERA Real Estate Valuers Classifications

Please see the below list of RERA Valuers License Classifications and corresponding criteria that applies to each license classification.

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.

• Real Estate Valuer License Application Form (Individual)

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 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 .

• Real Estate Valuer Application Form (Corporation)

To apply for a new application / to renew an existing license or for any other inquiries, please send all documents to support@rera.gov.bh

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 complete the RERA Standards & Regulations mandatory training course which covers topics such as the Bahrain Valuation Standards (BVS), International Valuation Standards, IPMS awareness, professional and ethical standards, Bahrain real estate Law & Regulations, plus assessment.

Upon successful completion of the mandatory training and assessment, candidates proceed to apply for a Class D License. This entails completion of the Fundamentals in Valuation course, passing the assessment and submitting 10 BVS compliant reports to RERA for assessment by RICS. Upon completion of the above a D Classification license will be issued by RERA (provided the applicant complies with all criteria set by RERA).

Note: Experienced Valuers with the appropriate and relevant expertise, knowledge and experience may elect to apply for a classification higher than D by completing the relevant RICS Classification assessment and submitting the requisite number of BVS compliant reports relevant to the Valuer classification.

• Classification D – The applicant must have a minimum of 6 months’ practical valuation experience evidenced 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 must complete the Tiers training programme - Course 1 Entry to Tier D: Fundamentals in Valuation, pass the exam and the license applicant must submit a minimum of 10 BVS compliant valuation reports to RERA for assessment by RICS. In the event that the valuation reports are deemed by RICS to meet the BVS criteria, and having met the requirement outlined above, the candidate is then eligible to apply for a D Classification license.

• Classification C – To proceed to Class C the applicant must complete the Tiers training programme - Course 2 Tier D to Tier C: Valuation Foundation Course, pass the exam and submit 5 BVS compliant Valuation reports to RERA for assessment, by RICS. Experienced Valuers with the relevant expertise, experience and knowledge may elect to undertake the Classification C assessment should the Valuer believe he/she already has the appropriate competencies for this classification. Applicants who are directly applying for this classification must also submit 5 BVS compliant (C Classification level) Valuation reports to RERA for assessment by RICS and provide evidence confirming completion of the mandatory training and assessments. All applicants must complete and pass the RICS Class C Assessment.
• Classification B – To proceed to Class B the applicant must complete the Tiers training programme - Course 3 Tier C to Tier B: Valuation Intermediate Course, pass the exam and submit 5 BVS compliant Valuation reports to RERA for assessment by RICS. Experienced Valuers with the relevant expertise, experience and knowledge may elect to undertake the Classification B assessment should the Valuer believe he/she already has the appropriate competencies for this classification. Applicants who are directly applying for this classification must also submit 5 BVS compliant (B classification level) Valuation reports to RERA for assessment by RICS and provide evidence confirming completion of the mandatory training and assessments. All applicants must complete and pass the RICS Class B Assessment.
• Classification A - To proceed to Class A the applicant shall complete the Tiers training programme - Course 4 Tier B to Tier A: Valuation Advanced Course and pass the RICS assessments. and submit 3 BVS compliant A classification Valuation reports to RERA for assessment by RICS. Experienced Valuers with the relevant expertise, experience and knowledge may elect to undertake the Classification C assessment should the Valuer believe he/she already has the appropriate competencies for this classification. For applicants who are directly applying for this classification must also submit the 3 BVS compliant (A classification level) Valuation reports to RERA for assessment by RICS and provide evidence confirming completion of the mandatory training and assessments. Applicants must complete and pass the RICS Class A assessment, interviews or other criteria as requested by RERA and RICS. RICS Chartered Valuers (or equivalent) will automatically be eligible to apply for Classification A license.

RICS Online Courses & Assessments

Guide for RERA Report submissions for Assessment by RICS

All valuers are advised to strictly follow the requirements as outlined by RICS in the table below when submitting valuation reports to RERA for assessment by RICS.Non-compliance with the requirements and matrix will result in RICS returning the reports to valuers.

Please open the link below to view the guidelines for submitting the report for assessments

• Guide for RERA report Submissions for Assesments by RICS

RICS CoursesPlease open the link below to view the list of RICS courses and their information.
Both Mandatory and Fundamentals courses must both be taken to progress on to the Tiered courses.

Cohort 5

• Valuation Intermediate Course and RERA Tier C to Tier B Assessment - 5
• Valuation Advanced Course and RERA Tier B to Tier A Assessment - 5

Further Information

Forfurther informationon RERA CPD Programmefor Valuers and to register directly click here,or send an email to the BIBF through the email: training@rics.org.
For other queriesplease send an email to info@rera.gov.bh

Licensed Valuers

Scroll down the table to view the Licensed Valuers, and click the button below the table to get a copy of it :

Valuation Transaction Report

With reference to the earlier circular issued by RERA on 2nd April 2020 , regarding the submission of Valuation Transactions Report , you are reminded to Provide RERA with a comprehensive Valuation Transactions Report for all transactions register on quarterly basis ( end of March, June, September and December) of each year ,within 15 working days from the end of each quarter through filling in the electronic transactions register click here.

In case no real estate valuation transactions were concluded you are still required to fill the electronic report by mentioning (No real estate valuation transaction has been concluded during this period) in the report . If you have any questions regarding the completion of this register, please contact us via e-mail data@rera.gov.bh.