What is RICS?
In this guide, we will cover what RICS means, what is a chartered surveyor, why is important to use a chartered surveyor and how a surveyor can become a RICS member.
The Royal Instituion of Chartered Surveyors is the official body of property professionals that issues and monitor the standards of a chartered surveyor.
RICS was established in 1792 and is considered the international body who regulates and trains any property professionals in over 140 countries worldwide.
All RICS accredited surveyors have to pass a thorough process before they receive their chartered status. A Chartered Surveyor will have an invaluable knowledge and the highest standards and will definitely help you when you are buying a property.
Using a RICS Chartered Surveyor is very important because it will guarantee you a highly professional standard by a highly-qualified member which will offer you an accurate and trustworthy opinion.
Whether a surveyor is at AssocRICS, FRICS or MRICS level, their level of knowledge and experience will offer a reliable report with your best interest in their mind.
Any RICS members need to follow the “RICS Rules of Conduct” that ensures you are fully covered with professional indemnity insurance and your surveyors sticks to the institution standard.
Any RICS surveyor will offer you support and guidance to make sure you get the best available result (and save money) on your property.
” Surveying is vital for everyone safety. If a surveyor does not do his job properly, we can end up working and living in unsafe buildings. “
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For a member to gain a RICS status they need to qualify by having a degree or relevant experience that is accredited by the Royal Institution. The assessment process is very thorough and quite lengthy to ensure the right level of expertise and the highest standards are met by a property surveyor.
Also, along with the RICS accredited degree, a verification process, known as RICS APC assessment needs to be completed. This consists of a written presentation to showcase a surveyor technical and mandatory competences, a professional presentation followed by a 45-minute questions sessions.
To maintain their RICS status, each year, a member needs to partake at 20 hours of learning and professional development courses (at least). The Royal Institution of Chartered Surveyors demands from their members to demonstrate integrity, responsibility, respect and trust as well as the high levels of standards that the organisation sets.
As you can see, a regulated by RICS surveyor will bring a professional opinion and a high level of expertise when comes to buying a property. So, to ensure a smooth process and to save money in long term, hiring a RICS surveyors is vital.
Now that we now what RICS is and why is important to hire a Chartered Surveyor, what would be the cost of using a RICS surveyor?
Probably, as anything in life, you get what you pay for and a RICS surveyor may cost a little bit more than a non-regulated surveyor. Usually, a non-regulated surveyor relies only on their personal ethics and are not hold accountable by any regulatory body, as is in a RICS accredited surveyor.
So, of course a surveyor who has a RICS membership will be slightly more expensive, but some mandatory conditions need to be met before they can use the “regulated by RICS” status.
So, hiring a RICS Chartered Surveyor will worth it? Short answer: YES. You will benefit by having a highly trained professional taking your HomeBuyer Report or Building Survey, which will highlight any repairs or hidden defects that could cost you later in the process.
Another benefit of hiring a RICS regulated professional is their dedication for professional development and improvement. Any Royal Institution members are required to update their knowledge and skills to be able to maintain their status. Also, they need to have a personal indemnity insurance to be able to operate under the RICS regulated flag.
At Trusted Surveyors, we champion and promote only the most reliable and trusted professionals in order to provide you with an exceptional service and support throughout the process.
We want to save you time and money by showing you only those professionals that are having the highest standards and are verified by an accredited body, as the Royal Institution of Chartered Surveyors (RICS).
Written by Danil P.
28th Dec 2020 (Last updated on 3rd Mar 2023)
5 minute read
