In 1996, HypZert was founded as the first daughter company by the Association of German Pfandbrief Banks (vdp). In the following years, the other German finance industry associations joined the vdp as shareholders. In the meantime, five daughter companies belong to the vdp family. Of course, Jens Tolckmitt, Chief Executive of the vdp since 2009, did not miss the opportunity to pay tribute to HypZert's successful development:

The foundation of HypZert was triggered by the criminal behaviour of an individual: A so-called "building lion" named Jürgen Schneider had applied for and received large-volume loans from various banks in the 1990s to finance his rapidly growing real estate empire. As it later turned out, when the house of cards collapsed, unfortunately in far too high volumes based on valuations that in many respects did not really reflect the reality of the respective property. Sometimes a floor was missing from the valuation, sometimes the available space later turned out to be noticeably smaller than assumed in the valuation.

Establishing a market standard for property valuation

Among the financing banks were also private mortgage banks. And so in their joint association, the VDH, the predecessor of the vdp, the idea quickly arose to proactively address the issue - and to establish a market standard for property valuation. The path to the goal was to be a certification body for real estate appraisers with a focus on the particularly conservative mortgage lending value: The idea of HypZert was born.

Jens Tolckmitt

"Together with my colleagues, the valuers and all those who have contributed to it, I am pleased about the success of this oldest subsidiary of the vdp, in which all associations of the German banking industry now hold shares."

Today, more than 25 years later, HypZert has long been the largest certification body for real estate valuers in Germany - with over 2,000 certified valuers in the meantime. The mortgage lending value it advocates has also become synonymous with high-quality real estate valuation internationally, and not just since the financial crisis. Accordingly, the HypZert certificate is a natural requirement for new hires at most institutes and valuation companies in this country. Today, valuers around the world are interested in acquiring such a certificate. Valuation companies themselves have been proudly displaying the seal " Approved by HypZert" in their names for years if they fulfil the requirements. Certified valuers have long organised themselves under the HypZert logo in order to develop method papers on specific valuation issues in a multitude of working groups, which not infrequently become the industry standard. And last but not least, it is HypZert's long-standing university activities that ensure that the profession of real estate appraiser also attracts the interest of the all-important next generation.

Here's to many more successful years

Together with my colleagues, the valuers and all those who have contributed to it, I am pleased about the success of this oldest subsidiary of the vdp, in which all associations of the German banking industry now hold shares.

Here's to many more successful years of joint work for high quality in real estate valuation!

 

We would like to thank Jens Tolckmitt for his congratulations and look forward to continuing such a successful cooperation with the vdp!

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