Challenges for internationalprofessional practice:From Market Valueto Natural ValueCharles CowapBattleby, Perth22 November...
New land managementRequirements are emergingNew marketsNew challenges toprofessional practice                        Charl...
Peat’s Story               Charles Cowap               MBA MRICS FAAV
Charles CowapMBA MRICS FAAV
Wimbleball Resr &Context: Exmoor example             R Haddeo                         R Exe    Exmoor             R Barle ...
Top 10 Business Opportunities1= Biodiversity Offsetting (BDO) andConservation Banking• Estimated size of market £50 – 300 ...
2. Woodfuel and Woodburning Stoves3. UK ecosystem knowledge economy4. Layered PES   – Different Environmental Services    ...
6. Carbon sequestration7. Sustainability certification   – Opportunities for      intermediaries8. Sustainable tourism    ...
9= Global centre of excellence inESS certification9= Water re-use technology11 Reducing insurance risk   through green inf...
NEW VALUATIONREQUIREMENTS AREEMERGING                   Charles Cowap                   MBA MRICS FAAV
Charles CowapMBA MRICS FAAV
Charles CowapMBA MRICS FAAV
SOME WORK HAS BEENDONE ALREADY                     Charles Cowap                 MBA MRICS FAAV
Charles CowapMBA MRICS FAAV
Charles CowapMBA MRICS FAAV
Charles CowapMBA MRICS FAAV
We face challenges to valuationECONOMIC APPRAISAL                                  Charles Cowap                          ...
Charles CowapMBA MRICS FAAV
And NowECOSYSTEM SERVICES                     Charles Cowap                     MBA MRICS FAAV
Charles CowapMBA MRICS FAAV
Charles CowapMBA MRICS FAAV
ECOSYSTEM SERVICES   Charles Cowap   MBA MRICS FAAV
From TEEB Foundations, Chapter 5APPROACHES FOR THEESTIMATION OF NATURE’SVALUES                                   Charles C...
Market             Contingent           Cost      Analysis            Valuation          Methods                          ...
ValuationWHERE DOES IT FIT?                     Charles Cowap                     MBA MRICS FAAV
Foresight Land Use Futures 2010                                  Charles Cowap                                  MBA MRICS ...
Other key trends fromthe Foresight ReportDrivers:• Demographic Change• Economic growth(?),   changing global economic   co...
Other key trends fromthe Foresight ReportLead to 3 key challenges•   + Demand for land in south-    east•   Climate change...
Shorter term trends identified by WarwickBusiness School/Local Govt Association•   Ageing population•   Health•   Families...
Shorter term trends identified by WarwickBusiness School/Local Govt AssociationLeading to:•   Diverse governance framework...
No future for land agents and agriculturalvaluers?                                        Charles Cowap                   ...
Source:http://charlescowap.wordpress.com20.6.2012                    Charles Cowap                   MBA MRICS FAAV
And what they saidBusiness skills and knowledge• “It‟s all about leadership, a psychological game more practised by  other...
Valuation•   Now the unique differentiation                                     “There are plenty of non-•   But threated ...
More specialisation•   Teamworking for complex client    problems•   Competition or collaboration or    complementarity – ...
“with more competition for land forWe‟ll always need land and             food, energy or ecosystems it will be           ...
Changing nature of clients                                 In my recent dealings looking at 2 farms                       ...
A Future?•   Yes, But:•   Hard work to get there and stay there•   And different in many ways.     – Valuation     – Manag...
Key Questions for RICS•   Is this anything to do with us?•   Our Public Interest Function    in this area?•   Our Member S...
Thinkpiece•   Royal Charter     – Promote the usefulness       of the profession to public       advantage•   New opportun...
And we should offer:•   Our expertise•   In Land Tenure and its    relationship to land    management and    development• ...
Questions?             Charles Cowap             MBA MRICS FAAV
Contact DetailsTranslating new knowledge for rural professional practice             cdcowap@gmail.com             07947...
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Future prospects for land agents

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Presentation at the RICS Scotland Rural Mid Session Conference, Perth, 22 November 2012. New markets, opportunities and challenges for the work of rural chartered surveyors.

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Future prospects for land agents

  1. 1. Challenges for internationalprofessional practice:From Market Valueto Natural ValueCharles CowapBattleby, Perth22 November 2012 Charles Cowap MBA MRICS FAAV
  2. 2. New land managementRequirements are emergingNew marketsNew challenges toprofessional practice Charles Cowap MBA MRICS FAAV
  3. 3. Peat’s Story Charles Cowap MBA MRICS FAAV
  4. 4. Charles CowapMBA MRICS FAAV
  5. 5. Wimbleball Resr &Context: Exmoor example R Haddeo R Exe Exmoor R Barle Replenishment Exebridge Pumping Pumping Approx 5 Station miles, lifting water from 120 to 240 m CO 2 AOD Charles Cowap MBA MRICS FAAV
  6. 6. Top 10 Business Opportunities1= Biodiversity Offsetting (BDO) andConservation Banking• Estimated size of market £50 – 300 million pa from housing, plus other sectors• Brokerage, certification and registration• Additional costs to builders/developers deducted from land value1= Peatland Carbon Code and Carbon Credits• Peat restoration for carbon storage• Management schemes and incentives• Certification and brokerage Charles Cowap MBA MRICS FAAV
  7. 7. 2. Woodfuel and Woodburning Stoves3. UK ecosystem knowledge economy4. Layered PES – Different Environmental Services to different buyers – Eg  Charles Cowap MBA MRICS FAAV
  8. 8. 6. Carbon sequestration7. Sustainability certification – Opportunities for intermediaries8. Sustainable tourism Charles Cowap MBA MRICS FAAV
  9. 9. 9= Global centre of excellence inESS certification9= Water re-use technology11 Reducing insurance risk through green infrastructure12 Environmental bonds http://www.valuing-nature.net/opportunities-uk-business- protect-and-value-natures-services-report-published- today [accessed 19 July 2012] Charles Cowap MBA MRICS FAAV
  10. 10. NEW VALUATIONREQUIREMENTS AREEMERGING Charles Cowap MBA MRICS FAAV
  11. 11. Charles CowapMBA MRICS FAAV
  12. 12. Charles CowapMBA MRICS FAAV
  13. 13. SOME WORK HAS BEENDONE ALREADY Charles Cowap MBA MRICS FAAV
  14. 14. Charles CowapMBA MRICS FAAV
  15. 15. Charles CowapMBA MRICS FAAV
  16. 16. Charles CowapMBA MRICS FAAV
  17. 17. We face challenges to valuationECONOMIC APPRAISAL Charles Cowap MBA MRICS FAAV
  18. 18. Charles CowapMBA MRICS FAAV
  19. 19. And NowECOSYSTEM SERVICES Charles Cowap MBA MRICS FAAV
  20. 20. Charles CowapMBA MRICS FAAV
  21. 21. Charles CowapMBA MRICS FAAV
  22. 22. ECOSYSTEM SERVICES Charles Cowap MBA MRICS FAAV
  23. 23. From TEEB Foundations, Chapter 5APPROACHES FOR THEESTIMATION OF NATURE’SVALUES Charles Cowap MBA MRICS FAAV
  24. 24. Market Contingent Cost Analysis Valuation Methods Deliberative Avoided Valuation Group Replacement CostValuation 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
  25. 25. ValuationWHERE DOES IT FIT? Charles Cowap MBA MRICS FAAV
  26. 26. Foresight Land Use Futures 2010 Charles Cowap MBA MRICS FAAV
  27. 27. Other key trends fromthe Foresight ReportDrivers:• 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
  28. 28. Other key trends fromthe Foresight ReportLead 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
  29. 29. Shorter term trends identified by WarwickBusiness School/Local Govt Association• Ageing population• Health• Families in Crisis• Climate Change• Local Economic Development and Regeneration Charles Cowap MBA MRICS FAAV
  30. 30. Shorter term trends identified by WarwickBusiness School/Local Govt AssociationLeading to:• Diverse governance frameworks• Different relationship between – State (public) – Markets (private) – Civil Society (3rd Sector) Charles Cowap MBA MRICS FAAV
  31. 31. No future for land agents and agriculturalvaluers? Charles Cowap MBA MRICS FAAV
  32. 32. Source:http://charlescowap.wordpress.com20.6.2012 Charles Cowap MBA MRICS FAAV
  33. 33. And what they saidBusiness 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
  34. 34. 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
  35. 35. 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
  36. 36. “with more competition for land forWe‟ll always need land and food, energy or ecosystems it will be a time of opportunity for land agentsfarming 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
  37. 37. 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 dont 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
  38. 38. A Future?• Yes, But:• Hard work to get there and stay there• And different in many ways. – Valuation – Management – Project initiatives: entrepreneur – Specialisation in networksSee MoreBlog:http://charlescowap.wordpress.com/Storify:http://storify.com/charlescowap/what-will-land-agents-and-agricultural-valuers-be Charles Cowap MBA MRICS FAAV
  39. 39. 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
  40. 40. Thinkpiece• Royal Charter – Promote the usefulness of the profession to public advantage• New opportunities in land management• New ways of working in development• New points to reflect in conventional valuations• New types of valuation Charles Cowap MBA MRICS FAAV
  41. 41. And we should offer:• Our expertise• In Land Tenure and its relationship to land management and development• Our experience of valuation in challenging commercial markets• Our expertise in brokerage Charles Cowap MBA MRICS FAAV
  42. 42. Questions? Charles Cowap MBA MRICS FAAV
  43. 43. Contact DetailsTranslating new knowledge for rural professional practice cdcowap@gmail.com 07947 706505Twitter: @charlescowapBlog: http://charlescowap.wordpress.com/Slideshare: http://www.slideshare.net/cdcowap Charles Cowap MBA MRICS FAAV

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