Property Valuation: A New Red Book – Changes and New Requirements

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The Royal Institution of Chartered Surveyors’ Red Book is no longer red and it is no longer a book. Instead, it is two PDFs that work side by side: The RICS Valuation – Global Standards 2025 (which incorporate the International Valuation Standards 2025) and the UK national supplement 2024.

The Red Book is there to help and support valuers undertaking valuations for clients; it is a quality assurance document. Clients need to know that there is a base level of professionalism and consistency from all chartered valuation surveyors.

This talk will look at:

• The 2025 changes to the Red Book
• The importance of context in Report Writing
• The need for diligence in undertaking valuations so not to stray into the areas of professional expertise outside that of the valuer (e.g. retrofit cost estimations)
• Dealing with uncertainty and risk

Nick French, Real Estate Valuation Theurgy, Property Education