14 Jun 2017
This spring we were in the headlines of leading European media with regards to global standards on conflict of interest, valuation and property measurement.
The press coverage confirmed the growing demand for RICS-qualified professionals in Europe, as key market players publicly recognise that RICS standards and self-regulation offer trust and the best quality services.
RICS conflict of interest professional statement
Our new standard on the conflicts of interest has filled the news of various national newspapers and leading business publications across Europe since its launch. The press promoted this important step we made requiring professionals to deal with and manage conflict of interest situations in real estate by following the best practices described in the new mandatory standard. Reporters were interested to know whether the “practice of double dipping among commercial real estate agents” could also be banned by the organisation in other European markets as it is the case in the UK.
The leading Polish newspaper Rzeczpospolita wrote four articles about the RICS professional statement last April:
See also an article in Outsourcing Portal, quoting our CEO Sean Tompkins
Budapest Business Journal published an interview with Péter Takács, Partner, VLK Cresa, who speaks about the RICS statement and its implications for Hungary. The other two articles in trade media Portfolio mentioned Anna Orcsik, RICS Regional Manager in CEE.
The Milano Finanza newspaper interviewed Daniele Levi Formiggini FRICS, Chair of the RICS Board in Italy, on the standard in Italy. Other sources: MF-Dow Jones news, tgcom24, Il quotidiano immobiliare.
The Immobilien Wirtschaft trade media outlet quoted Martin Eberhadt FRICS, Chair of the RICS Board in Germany, on conflicts of interest. See coverage also on Property Magazine, Die Immobilie, konii, Deutsche Finanz Presse Agentur and Haufe dedicating some lines to the standard.
See other media coverage on this topic, reported this past March as part of our MIPIM highlights.
On social media: this tweet was at the top with 120 engagements
Ethics & professionalism
The Italian il Quotidiano immobiliare published an interview with Daniele Levi Formiggini on this topic.
In Germany, Immobilien Zeitung mentioned RICS high standards in an article about ethics and transparency.
CBRE promotes RICS valuers and standards in Hungary
In Hungary, the Budapest Business Journal and Portfolio reported how CBRE trusts our valuers, saying:
“CBRE claims the majority of its valuers are experts registered with the Royal Institution of Chartered Surveyors (RICS), the worldʼs leading professional body for qualifications and standards in land, property, infrastructure and construction, which works to implement the highest professional international standards.”
The media outlets quoted Margaréta Mészáros, Head of Valuation at CBRE Hungary, as saying: “We are proud to have a mix of Hungarian and international colleagues in our Budapest office. Our expert valuers meet the strict RICS and complex CBRE internal requirements.”
We are glad to see a major firm such as CBRE in Hungary recognizing the importance of employing RICS registered valuers, thereby offering greater confidence and professionalism to their clients.
Recognition of RICS valuation standards in Italy
Last April, RICS together with 10 other real estate organisations signed an important agreement in Milan on the real estate due diligence procedure, primarily aimed at identifying the potential risks of transactions in order to promote transparency vis-à-vis potential stakeholders.
Italian media emphasized that “The so-called Abi's guidelines follow the ECB guidelines contained in the "Guidelines for Bad Credit Banks" published on March 20, and expressly state the need to adopt high valuation standards such as those promoted by RICS in its Red Book.”
Read coverage in the national newspapers Il Sole 24 Ore and Milano Finanza, as well as Monitore Immobiliare, Ansa and traderlink.it.
Apart from that, several online trade media in Italy promoted the RICS guidance notes on hotel valuation in Italy.
RICS value to La Charte de l’expertise in France
Business Immo and Immoweek announced the new version of La Charte (the French official standard on property valuation signed by 15 organisations, including RICS), which is based on the Red Book, IVS and TEGOVA standards.
RICS Property Measurement Standard revised
Announcing the public consultation recently opened by RICS, the PropertyEU magazine reported last May that the organisation is seeking input ahead of launching a new property measurement standard that will instil confidence and make property measurement more transparent.
Cushman & Wakefield promotes property measurement standards in Portugal
In its e-newsletter, Cushman & Wakefield in Portugal highlighted the benefits of IPMS (International Property Measurement Standards) - Office Buildings as an integral part of the RICS Professional Statement for Offices, which establishes the conditions under which RICS Members are required to measure and report the areas of office buildings.
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