Slide presentation at RICS Rural Conference 21 June 2012

1. Future challenges for rural
professional practice
RICS Rural Conference
Cirencester
21 June 2012
Charles Cowap
Chartered Surveyor
Harper Adams University College
Charles Cowap
MBA MRICS FAAV

2. NEW VALUATION
REQUIREMENTS ARE
EMERGING
Charles Cowap
MBA MRICS FAAV

3. Charles Cowap
MBA MRICS FAAV

4. Charles Cowap
MBA MRICS FAAV

5. SOME WORK HAS BEEN
DONE ALREADY
Charles Cowap
MBA MRICS FAAV

6. Charles Cowap
MBA MRICS FAAV

7. Charles Cowap
MBA MRICS FAAV

8. Charles Cowap
MBA MRICS FAAV

9. Charles Cowap
MBA MRICS FAAV

10. We face challenges to valuation
ECONOMIC APPRAISAL
Charles Cowap
MBA MRICS FAAV

11. Charles Cowap
MBA MRICS FAAV

12. And Now
ECOSYSTEM SERVICES
Charles Cowap
MBA MRICS FAAV

13. Charles Cowap
MBA MRICS FAAV

14. Charles Cowap
MBA MRICS FAAV

15. Charles Cowap
MBA MRICS FAAV

16. From TEEB Foundations, Chapter 5
APPROACHES FOR THE
ESTIMATION OF NATURE’S
VALUES
Charles Cowap
MBA MRICS FAAV

17. Market Contingent Cost
Analysis Valuation Methods
Deliberative
Avoided
Valuation
Group Replacement Cost
Valuation Cost Methods
Regime Shift
Methods Analysis
Insurance
Resilience Ecological Value
Value Risk
Footprint
Analysis Joint
Mitigation Analysis
Input/Output Production Cost
Analysis Function Method
Charles Cowap
MBA MRICS FAAV

18. Valuation
WHERE DOES IT FIT?
Charles Cowap
MBA MRICS FAAV

19. Foresight Land Use Futures 2010
Charles Cowap
MBA MRICS FAAV

20. Key Questions for RICS
• Is this anything to do with us?
• Our Public Interest Function
in this area?
• Our Member Services
Function in this area?
• Our Global Positioning?
• What, if anything, needs to be
done?
Charles Cowap
MBA MRICS FAAV

21. Other key trends from
the Foresight Report
Drivers:
• Demographic Change
• Economic growth(?),
changing global economic
conditions
• Climate change
• New technologies
• Societal preferences and
attitudes
• Policy and Regulatory
Framework
Charles Cowap
MBA MRICS FAAV

22. Other key trends from
the Foresight Report
Lead to 3 key challenges
• + Demand for land in south-
east
• Climate change and land use
• Delivery of public goods and
services
Charles Cowap
MBA MRICS FAAV

23. Shorter term trends identified by Warwick
Business School/Local Govt Association
• Ageing population
• Health
• Families in Crisis
• Climate Change
• Local Economic Development
and Regeneration
Charles Cowap
MBA MRICS FAAV

24. Shorter term trends identified by Warwick
Business School/Local Govt Association
Leading to:
• Diverse governance frameworks
• Different relationship between
– State (public)
– Markets (private)
– Civil Society (3rd Sector)
Charles Cowap
MBA MRICS FAAV

25. No future for land agents and agricultural
valuers?
Charles Cowap
MBA MRICS FAAV

26. Source:
http://charlescowap.wordpress.com
20.6.2012
Charles Cowap
MBA MRICS FAAV

27. And what they said
Business skills and knowledge
• “It‟s all about leadership, a psychological game more practised by
others in big offices and organisations”
• Difficulties in recruiting suitable chartered surveyors to top estate
management positions
• Lacking in vital business areas like risk analysis and
management
• Need to raise game: undergrad study not enough
Charles Cowap
MBA MRICS FAAV

28. Valuation
• Now the unique differentiation
“There are plenty of non-
• But threated by cheap and surveying professionals
cheerful services, and DIY who, in my opinion, are
valuations by banks, ahead of surveyors in
accountants etc. considering non-market
values and eco-system
services”
• And the emergence of eco-
system/non-market valuation
requirements???
Charles Cowap
MBA MRICS FAAV

29. More specialisation
• Teamworking for complex client
problems
• Competition or collaboration or
complementarity – „co-opetition‟
• Planning, valuation, tenancy
advice, business consultancy
• Specialised agricultural and land
administration
• Local knowledge a specialisation
in itself?
Charles Cowap
MBA MRICS FAAV

30. “with more competition for land for
We‟ll always need land and food, energy or ecosystems it will be
a time of opportunity for land agents
farming
but they will need to be more expert
at valuing uses and mediating
• Food, fuel, fibre choices and blends between them”
• Investment portfolios
• But who will do the work?
• “a little lycra under the tweed"
Charles Cowap
MBA MRICS FAAV

31. Changing nature of clients
In my recent dealings looking at 2 farms
for rental tender I have found the land
• Client knowledge and agents quite difficult to deal with … the
intelligence UP number of questions I asked that went
either unanswered or were answered
• Clients DIY with 'I don't know' was disconcerting.
There was also a strong feeling of being
• Implications for
spoken down too, rather than on a par. I
– Assistant Work do feel in business that you need to
– Succession in firms have a strong aptitude to build lasting
relationships with people as you never
• Opportunities in project know when you may look for their
initiation and development help/advice in future and in too many
cases I do find land agents speak as
– cooperation
though they are of a higher order.
Charles Cowap
MBA MRICS FAAV

32. A Future?
• Yes, But:
• Hard work to get there and stay there
• And different in many ways.
– Valuation
– Management
– Project initiatives: entrepreneur
– Specialisation in networks
See More
Blog:
http://charlescowap.wordpress.com/
Storify:
http://storify.com/charlescowap/what-will-
land-agents-and-agricultural-valuers-be
Charles Cowap
MBA MRICS FAAV

33. Contact Details
In-house CPD programmes, professional-technical updates,
organisational consultancy, and more:
 cdcowap@gmail.com
 07947 706505
Twitter: @charlescowap
Blog: http://charlescowap.wordpress.com/
Slideshare: http://www.slideshare.net/cdcowap
Charles Cowap
MBA MRICS FAAV