RICS has today launched an updated version of the UK residential real estate agency, RICS professional statement.
With the increased focus on the need for ethical practice and transparency in residential sales and lettings the professional statement sets out clearly the responsibilities of RICS professionals to ensure they are working to the highest ethical and professional standards.
The new statement will also include updates to mandatory guidance on Conflicts of Interest and behaviour, client money protection, and financial crime aspects.
Developed following extensive industry consultation and supported by both ARLA and NAEA the new document brings the UK statement into line with global guidelines and for the first time is mandatory for RICS professionals working in residential sales and lettings.
View and download this standard
Watch: Stay updated with the changes (1m 43s)
Against the fast changing property backdrop, with technology making an impact, it’s important to underline the role of the property professional and what benefits they bring to consumers in dealing with house sales and lettings. RICS professionals act in the best interests of the client, and doing what is best for the client is as important as the sale itself. Developed in consultation, this best practice guidance assists residential sales, lettings and management professionals in enhancing the quality of service provided to clients and prospective customers.
Our London Training Academy works closely with RICS, in our mission to demonstrate that a modern residential Estate Agency, can be and should be highly customer and consumer focused. Standards and ethics need to be built into a practice's DNA both through training and top down commitment.
We would always recommend that consumers use an RICS qualified professional when buying or selling property to get the best possible outcome and advice. Online selling can be a largely DIY approach, and consumers should use a reliable professional, rather than just any agent.
The central London property market is becoming increasingly complex and sellers, purchasers and landlords are dependent on expert advice. The Blue Book’s launch is very timely for this new era of residential property transactions. It will provide buyers, sellers, landlords and renters with the reassurance and confidence they require in selecting the right agent.
The RICS Residential property standards (the 'Blue Book') is the definitive set of standards for all agents involved with sales, lettings and management of residential property. To coincide with its launch a debate is being held at RICS on Monday evening opportunity to discuss the evolving nature of being a professional in this sector.
The session will cover:
- The role of a professional and why standards matter in residential agency.
- The risks facing estate and lettings agents and the impact of technology on professionalism.
- Is there a role for professionalism in an online environment?
- Increasing proliferation of government regulation.
- Estate agents’ role in emerging Private Rented Sector.
- Includes the most up-to-date legal cases relating to residential agency practice.
Look out for further communications from this event.
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