Royal Institution of Chartered Surveyors (RICS)

The Royal Institution of Chartered Surveyors (RICS) is a highly respected global professional body that represents professionals within the land, property, construction, and infrastructure sectors. With over 500 staff and more than 100,000 members across the world, plays an influential role in upholding and enforcing the highest international standards in these industries. This blog post provides a comprehensive overview of RICS, its history and evolution, the role of chartered surveyors’ standards and offerings, and real-world examples of RICS in action.

Introduction

The Royal Institution of Chartered Surveyors, commonly known as RICS, is a prominent professional body representing and regulating property and construction professionals worldwide. With roots dating back to 1792, RIC S has a long and rich history of maintaining exacting standards for the real estate, land surveying, construction, infrastructure, and related professional services industries.

The purpose of this blog post is to provide an in-depth look at RIC S – its history, role, standards, and significance within the property and construction sectors globally and here in the UK. A proper understanding of RICS is invaluable for anyone involved in these industries.

History and Evolution of RICS

The origins of RICS can be traced back to 1792, when a group of surveyors formed the Surveyors Club in London to share knowledge and best practices. This club evolved into the Institution of Surveyors in 1868, before being granted a royal charter by Queen Victoria in 1881 to become the Royal Institution of Chartered Surveyors.

Over the decades, RI CS has continued to develop its role, expanding internationally to represent professionals across 150 countries. It has firmly established itself as one of the world’s leading professional bodies in its sectors. RIC S works closely with governments and policymakers globally to enact positive change.

What is RICS?

RICS is a respected global professional body committed to upholding the highest international standards in land, property, construction, and infrastructure sectors. Its work focuses on providing impartial advice and expertise on these matters for the benefit of society.

With over 100,000 members across the world, RIC S has a truly global presence. Its professionals, known as Chartered Surveyors, work in diverse fields across property, construction, land, and infrastructure to ensure professional standards are met through self-regulation.

RIC S work with clients both in the public and private sectors to provide authoritative and impartial advice essential for markets and communities to function effectively. It also plays a key role in influencing policy locally and globally for the built and natural environments.

The Role of a Chartered Surveyor

‘Chartered Surveyor’ refers to a professional who is qualified and regulated by RICS. The work of Chartered Surveyors is highly diverse, covering valuations, management consultancy, dispute resolution, resource management, building/infrastructure advice, and more across the land, property, construction, and infrastructure sectors.

Becoming a Chartered Surveyor requires rigorous assessment of professional competence, qualification, and commitment to uphold the RIC S Rules of Conduct. Once admitted as a ‘Member’ (MRICS), Chartered Surveyors must follow RIC S’ strict standards and ethics as well as undertake Continuous Professional Development.

There are various levels of membership:

• Associate Member (AssocRICS) – Recently qualified professionals
• Member (MRICS) – Fully qualified Chartered Surveyor status
• Fellow (FRICS) – Senior professionals who have gained recognition for their exceptional contributions

RICS and Professional Standards

As a professional body, RICS takes the upholding of robust professional, ethical, and technical standards very seriously. All members must adhere to RIC S’ Rules of Conduct and regulations laid out in its global management framework.

These rules require members to always act with integrity, avoid conflicts of interest, declare relevant connections, and ultimately serve the public interest. RIC S members must also keep competence up to date through lifelong learning and Continuous Professional Development.

The profession is regulated by RICS under these principles rather than by the UK government, highlighting the trust placed in RIC S’ reputation and standards. Nonetheless, government approval is required for any significant changes to RIC S’ constitution.

RICS Services and Offerings

RICS provides a wide range of services designed to support professionals, uphold standards, and enable international cooperation within its sectors.

For individuals, RIC S offers training courses, events, advisors and mentors, and resources for continuous development. It provides dispute resolution services nationally and globally. RIC S is also renowned for its industry-leading guidance, from property measurement standards to ethics and sustainability best practices.

The ‘RICS Red Book’ is the preeminent guide for property valuations and forms the basis for national valuation standards worldwide. RICS’Building Cost Information Service’ (BCIS) provides vital construction cost data for the UK.

RICS in Action: Case Studies

RICS’ influence underpins many major construction and property developments:

• The Shard, London – RICS provided vital guidance on valuations, project management, and cost analysis for this iconic skyscraper.
  
• Crossrail Project – RIC S has been involved throughout, offering essential advice on land/property matters, legal issues, cost analysis, and dispute resolution.
  
• HS2 High-Speed Railway – RIC S is the lead consultant to the UK government on property and compensation concerns, demonstrating its key public interest advisory role.
  
• Beijing Capital International Airport – RIC S provided critical aviation sector expertise for the launch of this vast global hub.
  

Conclusion

As demonstrated throughout this post, RI CS is a highly prestigious global body upholding and enforcing the highest standards within property and construction professions. Its Royal Charter status and large international membership base reflect its reputation and influence.

RI CS provides essential regulation, guidance, training, and dispute expertise for these vital industries. Its long history and continued evolution leave it ideally positioned to ensure professionalism and ethics lead the way as the property and construction sectors address emerging challenges and opportunities.

References and Further Reading

RI CS – http://www.rics.org

RI CS professional standards and guidance – http://www.rics.org/uk/upholding-professional-standards/sector-standards/

RI CS news and policy – http://www.rics.org/uk/news-insight/

Information on becoming a Chartered Surveyor – http://www.rics.org/uk/surveying-profession/