Royal Institute of Chartered Surveyors

RICS

RICS White Logo
Thomas Winfield
Mr Thomas Winfield DipSP AssocRICS

RICS Chartered Surveyor

Our Professional Body

The RICS (Royal Institute of Chartered Surveyors) is a globally recognised professional body. Everything the RICS does is designed to bring positive change in the built and natural environments.

Through respected global standards, leading professional progression and trusted insight and data, the RICS enforces the highest professional standards in the development and management of land, real estate, construction and infrastructure. The RICS provides a foundation for confident markets, pioneers better places to live and work and is a force for positive social impact.

The RICS comprises over 134,000 highly qualified professionals, trainees, and offices in every significant financial market. The RICS is ideally placed to influence policy and embed our standards within local markets to protect businesses and consumers. In doing so, the RICS continues to innovate and progress the development of places and spaces so they are fit for our future generations, in addition to the challenges faced in the present.

Profession & Standards

The RICS develops and enforces leading international standards to protect businesses and consumers, ensuring that the highest level of professionalism is employed across the built and natural environment.

Our standards lay out the ethical, competence and conduct expected of the RICS members. By working to the RICS standards, professional members and RICS Regulated firms deliver confidence. The RICS ensures that professionals uphold these standards through a system of independently led regulation.

RICS Professional Standards

The RICS Red Book

The RICS Red Book is issued as part of its commitment to promote high standards in the delivery of valuation worldwide. The publication details the mandatory practices required for RICS Registered valuers undertaking valuation services.

It also offers a reference for all valuation users and other stakeholders to understand the methodology taken when certain valuation practices are undertaken.

https://www.rics.org/profession-standards

FAQ

Frequently Asked Questions

RICS (Royal Institution of Chartered Surveyors) valuations are typically required when you need an accurate and independent assessment of the value of a property, land or other assets. RICS valuations are conducted by chartered surveyors who are trained and experienced in providing professional, impartial and objective advice on property and real estate matters.

The cost of a RICS valuation can vary depending on several factors such as the type of property or asset being valued, its location, the complexity of the valuation, and the surveyor’s experience and qualifications. Generally, the cost of a RICS valuation can range from a few hundred to several thousand pounds or more.

RICS (Royal Institution of Chartered Surveyors) valuations are based on a variety of factors, including but not limited to:

  1. Market analysis: RICS valuations take into account current market conditions, trends and comparable sales in the local area to determine the value of the property or asset being valued.

  2. Physical inspection: A RICS qualified surveyor will typically conduct a physical inspection of the property or asset being valued to assess its condition, size, age, construction materials and other relevant physical attributes.

  3. Legal considerations: The surveyor will also consider any legal restrictions or limitations on the property, such as planning and zoning restrictions, easements or encumbrances that may impact its value.

  4. Income potential: In cases where the property is being valued for investment purposes, such as rental income or commercial use, the surveyor will consider its income potential.

  5. Environmental factors: The surveyor will also assess any environmental factors that may impact the value of the property, such as flood risk, contamination, or other hazards.

The time it takes to complete a RICS (Royal Institution of Chartered Surveyors) valuation can vary depending on several factors, including the type of property or asset being valued, the complexity of the valuation, and the surveyor’s workload.

In general, a RICS valuation report can take anywhere from a few days to several weeks to complete. However, many surveyors offer different levels of service and turnaround times to suit their clients’ needs.

A typical RICS Valuation  such as a help to buy or shared ownership valuation can be turned around from start to finish within a week.