Our Standards
Our Commitment
The RICS charter mandates that we "maintain and promote the usefulness of the profession for the public advantage." This commitment assures RICS members' clients and employers that the RICS credential represents the highest standards of professionalism and conduct.
RICS recognizes a critical difference between standards creation and standards implementation and enforcement.
1. We provide robust technical standards to our members. We do not necessarily set the standards.
2. We assure quality by training and regulating the individual professional to work in accord with appropriate standards
3. We advise on best practice standards
To review our Professional and Ethical Standards in detail (The RICS Rules of Conduct), please click here.
For a help sheet on the RICS Rules of Conduct, please click here.
To read about the RICS Valuation Standards (The Red Book) and RICS New Rules of Measurement, click here.
Our Professional and Ethical Standards
It is our view that by applying the following set of standards, in their professional and personal life, members would meet the high standards of behavior expected of them. Here is a PDF version of the Standards.
- Interpretation
In these Rules, unless the context otherwise requires, "Member" means a Fellow, Professional Member, Technical Member or Honorary Member of RICS or a member of the Attached Classes.
- Service of documents
Any notice or other document required by or for the purposes of these Rules to be given or sent to a Member may be given to them personally or sent by post to their last address notified to RICS.
- Integrity
Members shall at all times act with integrity and avoid conflicts of interest and any actions or situations that are inconsistent with their professional obligations.
- Competence
Members shall carry out their professional work with due skill, care and diligence and with proper regard for the technical standards expected of them.
- Service
Members shall carry out their professional work in a timely manner and with proper regard for standards of service and customer care expected of them.
- Lifelong learning
Members shall undertake and record appropriate lifelong learning and, on request, provide RICS with evidence that they have done so.
- Solvency
Members shall ensure that their personal and professional finances are managed appropriately.
- Information to RICS
Members shall submit in a timely manner such information, and in such form, as the Regulatory Board may reasonably require.
- Co-operation
Members shall co-operate fully with RICS staff and any person appointed by the Regulatory Board.
Standards Help Sheet
Click here to view the pdf version.
Act honorably
1. Never put your own gain above the welfare of your clients or others to whom you have a professional responsibility. Always consider the wider interests of society in your judgments.
Act with integrity
2. Be trustworthy in all that you do – never deliberately mislead, whether by withholding or distorting information.
Be open and transparent in your dealings
3. Share the full facts with your clients, making things as plain and intelligible as possible.
Be accountable for all your actions
4. Take full responsibility for your actions and don’t blame others if things go wrong.
Know and act within your limitations
5. Be aware of the limits of your competence and don’t be tempted to work beyond these. Never commit to more than you can deliver.
Be objective at all times
6. Give clear and appropriate advice. Never let sentiments or your own interests cloud your judgment.
Always treat others with respect
7. Never discriminate against others.
Set a good example
8. Remember that both your public and private behavior could affect your own, RICS’ and other members’ reputations.
Have the courage to make a stand
9. Be prepared to act if you suspect a risk to safety or malpractice of any sort.
Comply with relevant laws and regulations
10. Avoid any action, illegal or litigious, that may bring the profession into disrepute.
Avoid conflicts of interest
11. Declare any potential conflicts of interest, personal or professional, to all relevant parties.
Respect confidentiality
12. Maintain the confidentiality of your clients’ affairs. Never divulge information to others unless it is necessary.
In Practice
With all of the current financial uncertainty in the world, it’s more vital than ever for financial institutions, corporations and other organizations to have a clear and accurate valuation of their assets - tangible and intangible. RICS members are respected by property investment and finance professionals globally for their ability to provide accurate valuations of assets in a rapidly changing market.
At the heart of this credibility sits the RICS Valuation Standards (the Red Book), regarded as the ‘gold standard’ of valuation standards all over the world. RICS accepts and supports the International Valuation Standards Committee (IVSC) as the standards creator for valuation. The RICS Red Book embraces IVSC's standards, and contains the implementation and enforcement rules that require members to follow IVS.
Thus the Red Book ensures that an RICS member's client is getting the highest quality and most professional delivery of a valuation, carried out under IVS. For more information on RICS and valuation standards visit www.ricsvaluation.org
RICS New Rules of Measurement – Delivering an Industry Standard
The Quantity Surveying profession at last has the opportunity to measure construction projects from beginning to end using a single standardised rule book.
RICS is publishing, in stages, the New Rules of Measurement (NRM) over the next two years. They will comprise three volumes:
Volume 1: Order of cost estimating and elemental cost planning
Volume 2: Procurement
Volume 3: Whole Life Costing
Click here for full details.