What Is RICS? - Strut Building Surveyors

STRUT BUILDING SURVEYORS

What is RICS ®

STRUT BUILDING SURVEYORS

What is RICS ®

What is RICS? The Royal Institution of Chartered Surveyors (RICS) is a globally recognised professional body dedicated to promoting and enforcing the highest international standards in the valuation, management, and development of land, real estate, construction, and infrastructure

Established in 1868 in the United Kingdom, RICS has grown into a leading organisation with members across the world, ensuring ethical and professional standards in surveying and property-related industries.

The question what is RICS, can be simply answered; a benchmark for best practice across the property sector.

Get in touch

Role and Responsibilities

RICS provides guidance, support, and regulation to professionals within the real estate, construction, and infrastructure sectors. It ensures that its members adhere to strict ethical guidelines and professional conduct, maintaining public trust in the industry.

What is RICS, what do they do?

Key roles include:

Setting Global Standards: RICS establishes internationally recognized standards such as the RICS Valuation – Global Standards (commonly known as the “Red Book”), which governs property valuation.
Regulating Professionals: RICS members (MRICS or FRICS) must adhere to the institution’s professional and ethical framework, ensuring accountability and quality service.
Providing Certification and Accreditation: The organization certifies professionals and firms that meet its standards, giving them a competitive advantage in the market.
Offering Education and Training: RICS provides continuous professional development (CPD) opportunities, helping members stay up-to-date with industry best practices and legal frameworks.
Dispute Resolution Services: Through its dispute resolution service (DRS), RICS offers mediation, arbitration, and adjudication services for resolving conflicts in property, land, and construction disputes.
Influencing Policy and Advocacy: RICS works with governments and regulatory bodies to shape policies that promote sustainable and ethical real estate and infrastructure development.

Membership and Designations

RICS offers different membership levels based on qualifications and experience, so what is RICS:

AssocRICS (Associate Member) – An entry-level membership for professionals with relevant work experience and qualifications.
MRICS (Member of RICS) – A full professional membership awarded to individuals who meet the necessary educational and practical experience requirements.
FRICS (Fellow of RICS) – A prestigious status given to highly experienced professionals who have demonstrated outstanding achievements in the industry.
RICS Regulated Firms – Companies that adhere to RICS standards and best practices can gain accreditation, demonstrating their commitment to professionalism and ethics.

What is RICS, where do they operate?

The Royal Institution of Chartered Surveyors (RICS) operates globally, setting professional standards and providing expertise in land, property, construction, and infrastructure. RICS has a presence in over 150 countries, with major hubs in key regions.

Key Regions Where RICS Operates:

1. United Kingdom (UK) & Ireland

Headquarters in London, UK.
Strongest presence, with extensive influence in property valuation, land management, and construction sectors.
Recognised by government bodies, financial institutions, and real estate professionals.

2. Europe

Active in countries like Germany, France, Spain, Netherlands, and Italy.
Provides property and construction advisory services under EU regulations.
Works with investors, developers, and governments to standardize real estate practices.

3. Americas

Offices in New York, Washington D.C., Toronto, and São Paulo.
Growing presence in the U.S., Canada, and Latin America.
Focus on real estate investment, valuation, and infrastructure projects.

4. Middle East & Africa (MEA)

Regional hubs in Dubai (UAE) and Johannesburg (South Africa).
Supports property development, dispute resolution, and infrastructure projects.
Works with governments to improve real estate and land management standards.

5. Asia-Pacific (APAC)

Strong presence in China, Hong Kong, Singapore, India, and Australia.
Works closely with real estate firms, developers, and investors.
Focus on urban development, smart cities, and sustainability in construction.

Global Impact of RICS

Sets international property and construction standards.
Collaborates with governments, institutions, and businesses to improve the built environment.
Provides accredited training and certification for professionals worldwide.

‘What is RICS, a global body of construction professionals helping to shape the future of our built environment whilst preserving the past.’

Industries and Specialisations within RICS

RICS members operate in a wide range of sectors, including:

Valuation and Property Management
Construction and Project Management
Quantity Surveying (Cost Management)
Land and Geomatics Surveying
Commercial and Residential Real Estate
Urban Development and Planning
Infrastructure and Environmental Management

Why is RICS Important?

What is RICS is an important question. However, it is also crucial to understand their role within our built environment. RICS plays a crucial role in ensuring professionalism, integrity, and transparency in the built environment sector. It helps safeguard public and investor confidence in real estate transactions, ensures fair valuation practices, promotes sustainability in construction, and upholds ethical behavior in property management. Its globally recognized standards and membership credentials provide assurance that professionals are competent and trustworthy.

What RICS Members Do

A RICS (Royal Institution of Chartered Surveyors) Member is a professional who provides expert advice on land, property, construction, and infrastructure. RICS members adhere to strict ethical and professional standards, ensuring high-quality service for clients across various industries.

What a RICS Member Does for Clients:

1. Property Valuation & Appraisal

Provides accurate market valuations for residential, commercial, and industrial properties.
Assists with mortgage valuations, probate valuations, and investment appraisals.
Offers expert opinions for financial reporting and tax purposes.

2. Land & Real Estate Advisory

Guides clients on buying, selling, and leasing land or property.
Advises on land use, planning, and development opportunities.
Helps with compulsory purchase and compensation negotiations.

3. Construction & Project Management

Manages construction projects from planning to completion.
Ensures cost control, contract administration, and regulatory compliance.
Advises on sustainability and environmental considerations in building projects.

4. Quantity Surveying & Cost Management

Prepares budgets, cost estimates, and financial forecasts for construction projects.
Conducts cost analysis, value engineering, and risk assessments.
Helps clients optimize expenditures while maintaining quality and compliance.

5. Building Surveys & Inspections

Conducts structural surveys and condition reports for properties.
Identifies defects, maintenance needs, and refurbishment opportunities.
Advises on repair and renovation costs before purchasing or leasing properties.

6. Dispute Resolution & Expert Witness Services

Provides mediation, arbitration, and litigation support in property and construction disputes.
Acts as an expert witness in court cases related to real estate and land matters.

7. Facilities & Asset Management

Assists in managing real estate portfolios, maximizing asset value.
Advises on lease agreements, tenant negotiations, and operational efficiencies.
Supports clients in maintaining and improving the lifecycle performance of properties.

Who Benefits from RICS Members?

Homeowners & Buyers – Get reliable surveys and valuations.
Businesses & Investors – Receive expert advice on property acquisitions and developments.
Developers & Contractors – Gain cost management and project oversight.
Government & Public Bodies – Ensure compliance and best practices in public infrastructure projects.

This page has outline both, what is RICS, and provided insight into what both the organisation and their members can do for clients.

Standards

Upholding industry standards across sectors.

Professionalism

The value of knowledge and understanding.

Integrity

Consumer confidence, trusted recognition.

STRUT BUILDING SURVEYORS

RICS Building Surveyors

The Royal Institution of Chartered Surveyors (RICS) is an essential professional body that influences real estate, construction, and infrastructure industries worldwide.

With its rigorous standards, ethical guidelines, and commitment to excellence, RICS ensures that its members deliver high-quality and trustworthy services, making it a cornerstone of professionalism in the built environment.

We hope to have addressed, what is RICS with the information contained on this page.

Get in Touch