Newmark is pleased to announce that it has joined the International Valuation Standards Council (IVSC), a not-for-profit organization acting in the public interest to set global standards for the valuation profession.
Founded in 1981, the IVSC aims to establish consistent, high-quality valuation standards that support business and ensure the security of financial markets for the public good. Its membership is comprised of valuation providers, users of valuation services, professional bodies, regulators and educators.
“We are delighted to be the first global real estate advisory firm to join IVSC as a corporate member, and to become part of this distinguished group of professionals who share our view that we can benefit the public and enhance the stability of financial markets by improving the standards of international valuation practice,” said John Busi, President of Newmark Valuation & Advisory. “Our business is primed for a massive shift in the next ten years thanks to advancements in technology and an increasingly global and interconnected world. Now more than ever, it’s important that we have a common set of criteria across geographies for making crucial valuation decisions about complex assets. This will ensure consistency and trust in our profession for years to come.”
“International valuation standards have an incredibly important role to play in promoting transparency and trust in our interconnected world. They give confidence to the users of valuation data by ensuring comparability and helping to de-risk business and investment decisions,” added Sir David Tweedie, Chairman of the IVSC Board of Trustees. “It is vital, therefore, that leading valuation service providers such as Newmark, who work with international clients every day, are at the forefront of developing and applying this international best practice. As the first global real estate advisory firm to join the IVSC, Newmark is demonstrating its ongoing commitment to improving valuation for the good of its clients, markets and the public at large.”
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.