RICS Professional Regulation department monitors the quality of work undertaken by its members.

The following Frequently Asked Questions (and answers) are designed to help those affected by this scheme to understand more about what valuation monitoring involves:    

Q. What does RICS monitor?
A. All work covered by RICS practice statements; this includes valuations covered by the RICS Valuations Standards (the Red Book), plus work covered by the Rating Consultancy Code of Practice, Surveyors acting as Expert Witness Practice Statement and the Residential Estate Agency Practice Statement.

The purpose of the exercise is to monitor whether the member has complied with the requirements of the relevant practice statement(s). It is not within the remit of the monitoring exercise to consider, or comment upon, the numerical accuracy of the work produced by the member.  

Q. How does RICS decide who to monitor?
A.  With all practice statements, RICS will identify members who undertake work covered by the rules. The institution then selects a member from those identified as doing such work at random and that member is asked to present his "records" for inspection.

With Regulated Purpose Valuations (valuations for publication or to be relied upon by third parties) member firms are asked to certify whether they have produced Valuations within the previous twelve months at the same time as the request from RICS for the certificate in respect of Professional Indemnity insurance.

This enables RICS to establish which practices carry out Regulated Purpose Valuations. From that information, individual members within those practices are selected. Those members selected are asked to supply further information about the Regulated Purpose Valuations they, individually, prepare or accept responsibility for. 

RICS selects a specific Regulated Purpose Valuation and the valuer is requested to present his “records” for inspection. Normally, the “records” required will be the valuation file and, normally, the inspection will take place at the valuer’s office.  

Q. How can I be sure my client’s confidentiality is secure?
A. The investigator will give a signed undertaking that the information obtained during the monitoring exercise will be used by RICS solely for the purposes of the administration of the Institution’s Conduct and Disciplinary Regulations.

It will not be disclosed to any party, including other RICS staff members, not concerned with the administration of the Institution’s Conduct and Disciplinary Regulations.

In the event of any disciplinary action being taken by RICS against the member the identity of the client and the properties will be removed from documentation submitted to any disciplinary panel.

Q. What are the disciplinary ramifications of this process?
A.  If the investigator considers there is a breach of the Practice Statement but this breach is of a minor nature, the member will be asked to revise his practices but no further action will be taken. In the majority of inspections carried out to date, where breaches of a practice statement was established, the member giving an undertaking that he would revise his practices settled the matter.

For more serious breaches the case will be referred to the RICS Conduct section for their attention. They will decide if the case warrants further action and, if so, whether it should be dealt with under the Chief Executive’s delegated powers or referred to a Professional Conduct Panel or Disciplinary Board.

The Chief Executive’s delegated powers are utilized for less serious offences. Under these powers, the member will be informed by RICS that the Institution is satisfied that a breach of the requirements of the Practice Statement has occurred and RICS will impose a penalty consisting of a caution and/or a fine of up to £300 and/or require the member to give an undertaking as to future conduct.

If the member wishes the Chief Executive’s decision to be overturned he must notify RICS accordingly when the case will be referred to a Professional Conduct Panel or Disciplinary Board.

If RICS considers the alleged breach is more serious, or if the member appeals the decision of the Chief Executive, the case will be referred to a Professional Conduct Panel or Disciplinary Board. With both a Professional Conduct Panel and a Disciplinary Board the member will be informed of the allegations made against him and invited to respond.

The allegations and the member’s response will be presented at the hearing of the Professional Conduct Panel or Disciplinary Board. The member is invited to attend and make representations and may be represented by a lawyer or other person of their choice. 

The powers of the two tribunals differ. A Professional Conduct Panel may issue a reprimand or severe reprimand, and/or require an undertaking (including an undertaking that the member refrain from practicing surveying of a specified nature), and/or impose a fine not exceeding £1000 per contravention.

A Disciplinary Board has the same powers as a Professional Conduct Panel but in addition can impose fines not exceeding £5000 per contravention and/or suspend or expel the member and/or make such order as to costs as appears reasonable to the Board.

Please note, the procedures set out in this answer are the subject of review during 2007

Q. Will any information be published about me if I am monitored?

A. RICS will not publish any information about a member where it is established that member has complied with the Red Book. The member is, of course, free to make any publication or reference to this finding he, or she wishes, as long as the member complies with the accuracy requirements contained in Rule 5 of the Rules of Conduct. 

Any breach of a practice statement dealt with by RICS under the Chief Executive’s delegated powers will not be published.

However, both Professional Conduct Panels and Disciplinary Boards can order publication of their findings.

Any queries about the operation of this monitoring process should be addressed to:

Terence Walker MRICS
Senior Forensic Surveyor
RICS Professional Regulation and Consumer Protection
12 Great George Street
London SW1P 3AD
E twalker@rics.org.