The Implementation Of The RICS Valuation Review

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Over the last few years the Royal Institution of Chartered Surveyors has embarked upon a number of initiatives to protect and enhance the standing of the RICS Valuation Surveyor. The principal of these was the “RICS Independent Review of Real Estate Investment Valuations” published in January 2022. That report made 13 recommendations and, after careful consideration and consultation with the membership, the bulk of the changes will be implemented at the start of 2024. This talk will outline the impact of these changes and how they will support the valuation surveyor in their day-to-day work.

• The importance of regulation, consistency and professionalism in Valuation
• The importance of using the appropriate valuation model for the subject property
• The importance of independence of the valuer
• The importance of providing the valuation report in an appropriate format
• The importance of “marking to market” – Market Value
• The importance of distinguishing Market Value from Worth

Nick French, Real Estate Valuation Theurgy, Property Education