Royal Institution of Chartered Surveyors

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Template:Short description Template:Use British English Template:Redirect Template:Use dmy dates Template:Infobox organization The Royal Institution of Chartered Surveyors (RICS) is a global professional body for those working in the Built Environment, Construction, Land, Property and Real Estate. The RICS was founded in London in 1868. It works at a cross-governmental level,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite news</ref> and aims to promote and enforce the highest international standards<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> in the valuation, management and development of land, real estate, construction and infrastructure.

Founded as the Institution of Surveyors, it received a royal charter in 1881, and in 1947 became the Royal Institution of Chartered Surveyors. With a London HQ and regional offices across the United Kingdom, plus international offices, it serves a 113,000-strong membership distributed over nearly 150 countries. The RICS is linked to other national surveying institutions, collaborates with other professional bodies, and, in 2013, was a founder member of a coalition to develop the International Property Measurement Standards (IPMS). It also produces cost information and professional guidance on valuation and other activities.

In September 2021, an independent review exposed poor governance practices at the highest levels of the RICS organisation, prompting the resignations of the president, chief executive, interim chair of the governing council, and chair of the management board, in addition to the earlier resignation of the chief operating officer. The report was labelled an "appalling advert for our profession on the world stage". A subsequent review published in June 2022 demanded a "transformation of the institution carried out at pace".

HistoryEdit

RICS was founded in London, England, as the Institution of Surveyors after a meeting of 49 surveyors at the Westminster Palace Hotel on 15 June 1868. The inaugural president was John Clutton (who founded Cluttons, a property firm still in business today). The organisation has occupied headquarters on the corner of Great George Street and Little George Street since then.<ref name=history>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> It received a Royal charter as The Surveyors' Institution on 26 August 1881,<ref name=charter>Template:Cite newsTemplate:Subscription required</ref><ref group="note">Under the charter, full members were classed as Fellows (FSI) or Professional Associates (PASI). Non-chartered associate and student memberships were also provided for.<ref name=charter/> </ref> The charter required RICS to "promote the usefulness of the profession for the public advantage in the UK and in other parts of the world."

The Surveyors' Institution became the Chartered Surveyors' Institution in 1930.<ref>Template:Cite newsTemplate:Subscription required</ref> In 1946, George VI granted the title "Royal" and in 1947 the professional body became the Royal Institution of Chartered Surveyors.<ref>Template:Cite newsTemplate:Subscription required</ref>

The RICS (with the CIOB, CIBSE, IstructE and RIBA) was a founder member of the Building Industry Council, today the Construction Industry Council, in 1988.<ref name="NCE-22Oct1998">Template:Cite magazine</ref>

In March 2025, RICS president Justin Sullivan "agreed to step aside" following criticism of his role as an expert witness in legal case regarding a £32.5 million moth-infested mansion.<ref name=":0">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Sullivan referred himself to the body's standards and regulatory board.<ref name=":0" /> Nick Maclean, who is due to take over the presidency in 2026, was appointed as acting president temporarily.<ref name=":0" />

Coat of ArmsEdit

On December 1967 the RICS was granted a coat of arms by the College of Arms<ref>Template:Cite book</ref>:Template:Infobox COA wide

International influenceEdit

RICS has close links with many national surveying institutionsTemplate:Such as and is a founding member association of the International Federation of Surveyors (FIG). Within RICS the primary areas of practice represented at FIG are geomatics (land and hydrographic survey), environment, planning, construction and valuation.

RICS works in close collaboration with other professional bodies, central banks and international organisations such as The United Nations, World Bank and The European Union.

In 2013, RICS was a founder member of the coalition to develop International Property Measurement Standards, which launched its first standard – for measuring office space – in November 2014. It launched its second standard, for measuring residential buildings, in September 2016. In 2014 RICS was a founder member of the coalition to develop International Ethics Standards,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> standards designed to add greater consistency to developing and reinforcing professional ethics globally – these launched in December 2016.

To add greater consistency to the benchmarking, measuring, and reporting of construction project costs, International Construction Measurement Standards<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> were published in July 2017. The coalition for International Land Measurement Standards – aiding consistency of interpretation and documentation of tenure – launched in June 2016. In each case, coalition member bodies are committed to implementing the new standards through training and guidance for professional practitioners.

The RICS is a founder member of the International Valuation Standards Committee.

MembershipEdit

In 2025, there were 113,000 RICS-qualified members of whom 105,000 are "Professional Members" ie Chartered Surveyors in nearly 150 countries. The majority of members are still based in the United Kingdom, but with large numbers also in mainland Europe, Australia and Hong Kong. There is also strong growth in membership globally, particularly in China, India and the Americas.Template:Cn

Entry to membership of RICS is via four main routes: academic; graduate; technical; and senior professional. RICS has links with universities worldwide, with whom they have accredited approved courses which satisfy part of the qualification requirements to become trainee surveyors. RICS also offers expedited routes to membership for qualified professional members of some partner associations.

RICS requires members to update their knowledge and competence during their working life through Continuing Professional Development. Professionals holding RICS qualifications may use the following designations after their name:

  • AssocRICS (Associate); previously members at this level were known as Technical Members and used the designation "TechRICS"<ref name="AssocRICS">{{#invoke:citation/CS1|citation

|CitationClass=web }}</ref>

  • MRICS (Member); previously members at this level were known as Professional Associates and used the designation "ARICS".
  • FRICS (Fellow).
  • HonRICS (Honorary members)

Those with the designation MRICS or FRICS are "Professional Members" entitled to be known as Chartered Surveyors<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> and variations such as "Chartered Building Surveyor", "Chartered Valuation Surveyor" or "Chartered Quantity Surveyor", depending on their chosen specialist qualifications and field of expertise.

Both AssocRICS and MRICS require the collation of a candidate's training and work experience to be assessed by RICS trained assessors,<ref name="Become an RICS Fellow FRICS">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> although some may be eligible for direct entry based on international qualifications. MRICS has a higher technical bar to entry and there is an academic prerequisite which does not exist for AssocRICS.<ref name="Become an RICS Fellow FRICS"/> MRICS applications are also subject to an Assessment of Professional Competence (APC) interview, held by a panel of Chartered Surveyors where the candidate's experience, knowledge and technical skill is assessed during the interview.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> FRICS is the highest accolade awarded and demonstrates the professional achievements of an individual. It is an honoured class of membership awarded and an international measure of excellence. Only those who hold the MRICS designation are eligible to apply for FRICS and they must meet the required number of professional characteristics.<ref name="Become an RICS Fellow FRICS"/>

Professional groupsEdit

RICS specifies areas of specialism, each with its own professional group, clustered into land, property and construction. Within each professional group there may be further specialisms.<ref>Professional Groups of the RICS</ref>

Property professional groups Land professional groups Built environment professional groups
Arts & antiquities Environment Building control
Commercial property Geomatics Building surveying
Dispute resolution Minerals & waste Project management
Facilities management Planning & development Quantity surveying & Construction
Machinery & assets Rural Dilapidations forum
Management consultancy Telecom forum Insurance forum
Residential property Infrastructure
Valuation
Building conservation forum

Specialist accreditationsEdit

RICS aims to cover, among its practising members, property and construction related expertise generally. Specialised areas of practice expertise for which accreditation is available include:

  • Building Information Modelling (BIM) Manager Certification
  • Building Conservation
  • Chartered Environmentalists
  • Dispute Resolution
  • ECO Assessor Certification
  • Fixed Charge Receivership Scheme
  • Valuer Registration.

RICS MatricsEdit

The junior branch of RICS, known as Matrics (pronounced "matrix"), provides educational support, charitable and networking activities for surveying students, trainee surveyors (of any age) and Chartered Surveyors with ten years or less post-qualification experience.<ref>RICS</ref> It comprises some 40 local groups across the United Kingdom. Established in 1889 as the Junior Committee, it became the "Junior Organisation" ("JO") in 1928 and was re-branded as "RICS Matrics" in 2003. It also has links with the Young Chartered Surveyors in the Republic of Ireland.

GovernanceEdit

The RICS is governed by a governing council, to which report a management board, a standards and regulation board, and an audit committee.<ref name="corpgov">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

2019-2021 governance reviewEdit

In January 2021, the RICS reversed a decision to suppress a 2019 BDO report critical of the organisation's financial governance. According to the Sunday Times, four non-executive directors had expressed concerns about the report's findings, but were dismissed in November 2019 by then president Chris Brooke.<ref name="Kelly-13Dec2020">Template:Cite news</ref> Following a letter from four past presidents, the RICS initially rejected an independent review,<ref name="Neg-14Dec2020">Template:Cite news</ref><ref name="Kelly-20Dec2020">Template:Cite news</ref> but, after the ousted directors also wrote a letter, then said its governing council would "revisit" the issue,<ref name="Shah-17Jan2021">Template:Cite news</ref><ref name="Lowe-18Jan2021">Template:Cite news</ref> and on 22 January 2021 announced it would initiate an independent inquiry into the affair.<ref name="Lowe-22Jan2021">Template:Cite news</ref> In 2019, RICS finances were reported to have been in a difficult position, the organisation having made a pre-tax loss of £4.7m on £91.3m of income from fees and commercial activities. It subsequently made 140 people redundant.<ref name="Norwood-11Jan2021">Template:Cite news</ref> In February 2021, the RICS president Kathleen Fontana said that, in addition to the independent review into the audit report, the governing council was agreeing a strategic review into the institution's governance and member engagement. Building reported member views that expensive membership fees did not reflect the benefits they receive, and that RICS' international expansion had been "at the expense of its core UK membership, which feels disengaged and neglected".<ref name="Building-03Feb2021">Template:Cite news</ref>

In April 2021, Peter Oldham, the chair of the independent review of RICS's governance resigned "for professional reasons", to be replaced by Alison Levitt QC with completion delayed to June 2021<ref name="McArthy-10Apr2021">Template:Cite news</ref> – later pushed back to mid-August 2021.<ref name="Lowe-23Jul2021">Template:Cite news</ref> On 4 June 2021, Building reported the "surprise" resignation and immediate departure of RICS' chief operating officer Violetta Parylo amid "a storm of calls" from members for reform.<ref name="Marshall-4Jun2021">Template:Cite news</ref> The RICS review of its purpose and relevance had been published in May 2021. Based on 9,000 responses, it reported members' trust in the RICS had plummeted by nearly a third, while satisfaction with membership had fallen to a historic low of 43%.<ref name="Lowe-20May2021">Template:Cite news</ref>

Levitt reviewEdit

Levitt's governance review was delivered to the RICS in early August but not immediately made public, prompting calls for its full publication;<ref name="McCarthy-18Aug2021">Template:Cite news</ref> the report was first reviewed by a five-strong subgroup of RICS's 26-member governing council.<ref name="Bill">Template:Cite news</ref> Property Week columnist Peter Bill said "a private tiff has ballooned into a crisis of confidence in the 130,000-member institution" with a defensive management facing a small but powerful group of disaffected members.<ref name="Bill" /> After the August departure of RICS managing director Matthew Howell, RICS CEO Sean Tompkins resigned on 9 September 2021,<ref name="McCarthy-09Sep2021">Template:Cite news</ref><ref name="Lowe-09Sep2021">Template:Cite news</ref> when the full Levitt Review was published; Tompkins also forfeited a £190,000 bonus payment.<ref name="Lowe-15Sep2021">Template:Cite news</ref> In light of the Review findings, RICS president Kathleen Fontana, the interim chair of the governing council Chris Brooke, and management board chair Paul Marcuse also resigned,<ref name="RICSLevitt">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> and RICS terminated its relationship with London law firm Fieldfisher, criticised by Levitt for being "demonstrably and inappropriately partisan."<ref name="Ames-27Oct2021">Template:Cite news</ref>

Levitt said the RICS had made it "as difficult as possible" for people to contact the review; "RICS management and others on occasion" gave an "impression of reluctant acquiescence" during her investigations, she said.<ref name="Lowe-17Sep2021">Template:Cite news</ref> Her 467-page report concluded that the four non-executive board members had been wrongly dismissed and that sound governance principles were not followed.<ref name="Lewis-09Sep2021">Template:Cite news</ref> The CEO and COO thus operated with little effective scrutiny and become resistant to challenge amid "a power struggle". Levitt recommended "a wide-ranging external review of purpose, governance and strategy, led by an independent reviewer", plus interim recommendations relating to governance, executive remuneration, whistle-blowing and legal advice. The RICS governing council committed to apologise to the dismissed non-executive directors, and to implement all the report's recommendations.<ref name="RICSLevitt"/> On 30 September 2021, Building reported on a "grovelling public apology" from the RICS to the wrongfully dismissed non-executive directors, and said an external review of the institution's future purpose was set to start within weeks.<ref name="Lowe-30Sep2021">Template:Cite news</ref> The ousted non-executive directors welcomed the formal apology but said it was "difficult to accept it as a statement of genuine contrition".<ref name="McCarthy-04Oct2021">Template:Cite news</ref>

Gleeds chairman and Building columnist Richard Steer called the governance scandal an "appalling advert for our profession on the world stage" and said RICS needed to undergo a "complete restructuring".<ref name="Low-13Sep2021">Template:Cite news</ref> Paul Roberts, MD of global law firm Secretariat, said all 21 members of the RICS's governing council should be removed and replaced with new blood elected by the RICS membership.<ref name="Lowe-27Sep2021">Template:Cite news</ref>

In October 2021, the RICS refused a request by 40 former and current employees to launch an investigation into how the institution selected staff to be furloughed during the COVID-19 pandemic. The employees group alleged that some staff were furloughed as RICS had considered them too supportive of the institution's membership, and sought a review of RICS's human resource procedures, but RICS refused, considering the matter closed.<ref name="Lowe-19Oct2021">Template:Cite news</ref>

The Cabinet Office provided advice on suitable individuals to lead the review of the RICS's future purpose.<ref name="Lowe-06Oct2021">Template:Cite news</ref> In December 2021, the RICS announced former senior civil servant Michael Bichard would lead a six-month review into its governance and future purpose, with three objectives set by the RICS's governing council: to "create clarity" about the RICS' purpose, to propose how the organisation could be a "beacon for best practice" in governance, transparency and accountability, and to ensure that governance is "fit for today" and could remain relevant in future.<ref name="Lowe-02Dec2021">Template:Cite news</ref>

Bichard reviewEdit

The 68-page Bichard review, recommending sweeping reforms, was published on 21 June 2022.<ref name="Lowe-21Jun2022">Template:Cite news</ref> It said the future success of the organisation would "require nothing less than a transformation of the institution carried out at pace"; the need for change was "urgent" and "unarguable". Bichard's recommendations included: a renewed and increased focus on the public interest remit of RICS, including amending the Royal Charter and creating a public interest panel to advise the RICS's Governing Council; maintaining self-regulation, through greater independence for regulatory functions; increased focus on diversity and inclusion; empowering and enabling members through greater support for regional boards, alongside increased member engagement, with renewed focus on younger members; an independent review of RICS's governance and effectiveness at delivering against its Charter for the public advantage once every five years; a new simplified, clear, accountable governance structure; and greater leadership on major society issues such as sustainability and climate change.<ref name="shoffman-21Jun2022">Template:Cite news</ref> Bichard also said the RICS should seek to continue to increase its influence overseas - a policy that was "very contentious" among the institution's 140,000 members.<ref name="Lowe-21Jun2022"/>

Bichard said: "My aim has been to help create a new sense of purpose and direction so that RICS can once more stand tall as an exemplar professional institution, capable of tackling the challenges which will shape the way we all live our lives in the years to come. Issues such as climate change and sustainability, improving the built environment and building safety all sit within the remit of RICS and will benefit from the contribution which a revitalised RICS could make."<ref name="shoffman-21Jun2022"/>

Nick Maclean, interim chair of RICS's governing council, said: "The Bichard RICS Review represents a watershed moment for the institution, and a key point in time which sets out a path for permanent improvement. Implementation of the recommendations will provide a solid accountable structure to effectively support our professionals and work in the public interest. RICS governing council strongly endorses the recommendations, and will implement these proposals."<ref name="shoffman-21Jun2022"/> McLean was set to stand down on 5 October 2022, his role being abolished as part of Bichard's recommendations; the chief executive role would also be replaced by a new director general.<ref name="Lowe-21Jun2022"/>

In August 2022, Bichard was appointed as interim senior independent governor through to 31 December 2023, responsible for scrutinising the actions of the RICS' governing council and committees.<ref name="Lowe-09Aug2022">Template:Cite news</ref> In December 2022, the RICS announced the establishment of a new board to oversee day-to-day operations and deliver the governing council's strategic plan. It is to be chaired by former CBRE Group director Martin Samworth. He will also review proposed changes to constitutional documents, including the RICS's Royal Charter, recommended in Bichard's review.<ref name="Gayne-12Dec2022">Template:Cite news</ref>

Governance review over fire safetyEdit

In January 2022, the Department for Levelling Up, Housing and Communities was reporting to be planning legislation to enable regular reviews of the RICS's governance. Ministers were said to be frustrated by a RICS decision in December 2021 to maintain its valuation advice requiring External Wall System forms (EWS1s) on blocks under 18m high.<ref name="Brown-12Jan2022">Template:Cite news</ref> Richard Collins, the RICS's interim CEO, publicly questioned the need for the proposed new law to monitor RICS's governance.<ref name="Brown-03Feb2022">Template:Cite news</ref>

PresidentsEdit

The first president was John Clutton, who was elected in 1868. The first female president was Louise Brooke-Smith, who was elected in 2014.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Template:Columns-list Template:Notelist

AdministrationEdit

RICS headquarters is in London, with its main support functions in Birmingham. There are regional offices in the United Kingdom, across mainland Europe, in China, Singapore, Australia, the Middle East, Sub-Saharan Africa, North America and Brazil.

GuidanceEdit

BCISEdit

{{#invoke:Labelled list hatnote|labelledList|Main article|Main articles|Main page|Main pages}} BCIS, the Building Cost Information Service, was established in 1962 and provides independent cost and price information to the construction industry and others needing comprehensive, accurate and independent data. It was spun out of RICS in 2022, becoming an independent company. Template:Citation needed

IsurvEdit

{{#invoke:Labelled list hatnote|labelledList|Main article|Main articles|Main page|Main pages}} Isurv is an online information service for expertise in natural and built environments. Launched by the RICS in September 2003, it provides insight from verified legal experts and industry practitioners relating to construction.

Rental valuation of public houses, bars, restaurants and nightclubs in England and WalesEdit

The primary RICS professional guidance on this subject is covered at VPGA 4 Valuation.<ref>See also the capital and rental valuation of public houses, bars, restaurants and nightclubs in England and Wales</ref> It provides practical assistance to valuers dealing with public houses which are valued and assessed in a completely different way than other commercial businesses.

Public houses are valued by the profits method of valuation, often referred to as Fair Maintainable Trade Or Turnover (FMT). The FMT method applies to tens of thousands of commercial properties in England and Wales and is the basis of rateable valuation by the Valuation Office Agency, who also follow this method. RICS guidance ('The Red Book') emphasises that a valuer specialising in such valuations are regularly involved in the market, as practical knowledge of the factors affecting the market is essential to analysis of comparable transactions.<ref>The Red Book Global Standards</ref>

SMMEdit

The Standard Method of Measurement (SMM) published by the RICS consisted of classification tables and rules of measurement, allowing use of a uniform basis for measuring building works. It was first published in 1922, superseding a Scottish Standard Method of Measurement which had been published in 1915. Its seventh edition (SMM7) was first published in 1988 and revised in 1998. SMM7 was replaced by the New Rules of Measurement, volume 2 (NRM2), which were published in April 2012 by the RICS Quantity Surveying and Construction Professional Group and became operational on 1 January 2013.<ref>RICS, RICS standards and guidance – SMM7: Standard method of measurement of building works, accessed 1 July 2020</ref> NRM2 has been in general use since July 2013.

SMM7 was accompanied by the Code of Procedure for the Measurement of Building Works (the SMM7 Measurement Code). Whilst SMM7 could have a contractual status within a project, for example in the JCT Standard form of Building Contract), the Measurement Code was not mandatory.<ref>Designing Buildings Wiki, Standard Method of Measurement, accessed 1 July 2020</ref>

NRM2 Is the second of three component parts within the NRM suite:

  • NRM1 – Order of cost estimating and cost planning for capital building works
  • NRM2 – Detailed measurement for building works
  • NRM3 – Order of cost estimating and cost planning for building maintenance works.<ref>RICS, NRM, accessed 2 August 2020</ref>

Commercial leasesEdit

A commercial lease code was published in 2020 as part of an RICS professional statement to promote best practice, replacing a code of practice for commercial leases first developed in 1995, with updates issued in 2002 and 2007.<ref name=freedman /> The initial code was seen as an attempt to balance relationships between landlords and premises renters, especially in the small business sector. The code adopted in 2020 reflected a perception that "the lettings market became more evenly balanced between landlords and tenants" by this time. The code operates as a professional statement with mandatory obligations applicable to RICS members and regulated firms, and separately as a "good practice" document without the mandatory requirements, for use outside a professional context.<ref name=freedman>Freedman, P., The commercial lease code is here, Property Journal, published 24 May 2020, accessed 26 May 2024</ref>

Charitable worksEdit

Lionheart is the benevolent fund for past and present RICS members and their families. The charity was established in 1899 and provides financial support, health and well-being packages, and work-related counselling and befriending support. RICS also supports the Chartered Surveyors Training Trust, which helps young people enter the profession through apprenticeships;<ref>RICS Template:Webarchive</ref> Charity Property Help, which provides property advice to charities and voluntary organisations,<ref>RICS Template:Webarchive</ref> and The Chartered Surveyors' Voluntary Service (CSVS), a registered charity providing free property advice to people who would otherwise struggle to access professional assistance.<ref>RICS Template:Webarchive</ref>

See alsoEdit

NotesEdit

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ReferencesEdit

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External linksEdit

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