What does RICS stand for?
RICS stands for the Royal Institution of Chartered Surveyors.
What is RICS?
The Royal Institution of Chartered Surveyors describes themselves:
As a globally recognised professional body, everything we do is designed to effect positive change in the built and natural environments.
Through our respected global standards, leading professional progression and our trusted data and insight, we promote and enforce the highest professional standards in the development and management of land, real estate, construction and infrastructure. Our work with others provides a foundation for confident markets, pioneers better places to live and work and is a force for positive social impact.
With over 134,000 highly qualified trainees and professionals, and offices in every significant financial market, we are ideally placed to influence policy and embed our standards within local marketplaces in order to protect consumers and businesses. In doing so, we can innovate and progress the development of spaces and places so they are fit for future generations, in addition to the challenges faced in the present.
Where can I find a RICS surveyor?
The RICS has a separate dedicated website called Find a Surveyor. There you can find both residential and commercial surveyors. They also offer a search function on their main website where you can find out if your surveyor qualified?
At the time of writing they had:
- 2,993 surveyors who can help with buying a home.
- 1,855 surveyors who can help with selling a home
- 611 surveyors who can help with renting
- 2,049 surveyors who can help with adding an extension
- 1,705 surveyors who can help with retail businesses
- 1,576 surveyors who can help with industrial buildings and sites
- 1,370 surveyors who can help with quantity surveying
- 80 surveyors who can help with commercial land surveys
What is a RICS valuation?
RICS describes the need for their mortgage valuation surveys in the following way:
So that you can be fully informed of the condition of the property before you purchase, our members undertake . A buyer would be unwise to rely only on the lender’s mortgage valuation. We recommend that depending on the circumstance and type of property any prospective purchaser appoints a surveyor to carry out a Level One survey such as an RICS Condition Report , a Level Two survey such as a RICS HomeBuyer Report or a Level Three survey such as a RICS Building Survey.
Our surveys can empower you as a purchaser by providing you with greater knowledge about your perspective property. There may be some expensive repairs to carry out, identified in a survey that a mortgage valuation wouldn’t necessarily pick up.
What is a RICS survey?
The RICS offers the following home surveys:
Home Survey Standard – As part of our commitment to promoting and enforcing the highest standards in the residential sector, the RICS Home Survey standard will become the best practice benchmark – enabling adoptees to demonstrate consistency, deliver the highest quality of service, meet evolving consumer needs and contribute to delivering trust in the home survey market across the UK.
RICS HomeBuyer Report (Survey) – This professional statement and accompanying documentation set out mandatory requirements and best practice guidelines for members carrying out an RICS HomeBuyer (Survey) Service.
RICS HomeBuyer Report (Survey & Valuation) – This professional statement and accompanying documentation set out mandatory requirements and best practice guidelines for RICS professionals carrying out an RICS HomeBuyer (Survey & Valuation) Service.
RICS Building Survey – The RICS Building Survey is the most comprehensive report of its kind and should be used for larger or older properties, or when planning major works.
RICS Condition Report – The RICS Condition Report should be used for a conventional house, flat or bungalow built from common building materials and in reasonable condition.
What does a RICS surveyor do?
The RICS says that:
Surveyors keep traffic flowing, water running and people moving. They shape our roads, bridges and tunnels, our skyscrapers, stations and stadiums. They work in mines and in fields, on cliffs and on beaches. They value the houses we live in and the places we work in. They create safer homes and happier communities.
And they’re busy shaping our future too: helping to regenerate deprived areas and planning smart cities connected by the Internet of Things, while pioneering safer, more sustainable and more environmentally friendly building methods.
Surveyors work closely with a wide range of people: architects and engineers, bankers and ecologists, town planners and property developers. And they use the latest technologies: flying drones to map land and measure buildings, creating virtual reality models of buildings, and using Big Data to tackle global issues like climate change, migration and urbanisation.
There are more than 100 varied career roles across the surveying profession in three main sectors: construction and infrastructure; property; and land.
How Much Does A RICS valuation cost?
The RICS does not list this information on their website, but the Home Owners Alliance provides the following estimates:
- RICS Condition Report (survey level one) – £300+
- RICS HomeBuyer Report (Survey only – survey level two) – £350+
- RICS HomeBuyer Report (Survey and Valuation – survey level two) – £450+
- RICS Building Survey (survey level three) – £500+
Keep in mind these are estimated costs.
What is RICS qualification?
The RICS explains that:
There are two main types of RICS qualification – Associate (AssocRICS) and Chartered (MRICS):
Associate is the entry-level RICS qualification and offers the chance to progress to full chartered status
Chartered is the most common way to qualify as most people already have surveying-related qualifications and work experience.
To qualify as an Associate or Chartered member, you will have to pass a series of assessments.
How do I become RICS qualified?
Do become qualified you’ll need to meet the following criteria:
Associate Member is available on completion of the associate qualification. You can enrol at any time in your career but must meet one of the following before applying for assessment:
- 1 year of relevant experience and a relevant bachelor’s degree
- 2 years of relevant experience and a relevant higher/advanced/foundation qualification
- 4 years of relevant experience (no qualifications required).
Chartered Member is available on completion of the chartered qualification. You can enrol at any time in your career but must meet one of the following before applying for assessment:
- Relevant experience and an RICS-accredited degree
- 5 years of relevant experience and any bachelor’s degree
- 10 years of relevant experience operating at an advanced level by seniority, specialisation, or in academia.
What is a RICS accredited degree?
The RICS explain that:
If the university lifestyle appeals to you and you want to study a subject leading to a fast-paced, high-tech career, then a surveying-related degree could be ideal for you.
There are more than 300 courses at UK universities covering land, property and construction that are accredited by RICS. So, there’s a surveying course suited for you – no matter where you want to study or what your career ambitions are.
What is the RICS red book?
The RICS explains that:
The Red Book is issued by RICS as part of our commitment to promote and support high standards in valuation delivery worldwide. The publication details mandatory practices for RICS members undertaking valuation services. It also offers a useful reference resource for valuation users and other stakeholders.