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D - Valuation Activities

RICS require this information so that we can send you targeted regulatory information, particularly regarding legislative changes.

Q1

What percentage of your time is spent carrying out Red Book Valuation work?

Q2

Type of Valuation: Please select the types of valuation work you carry out.  Once you have selected all the types you carry out, please state the top five valuation activities in order of importance eg. 1,2,3,4,5. 

Please select all types of valuation activity which you carry out. You can select as many, or as few, valuation activities as is appropriate to you, provided that you select at least one option from the list. If you do not carry out any of the listed activities please select “other”.

For further details of each valuation activity, please see below.

Red Book Valuation Activity

  • Activity Definition
    Commercial Real Estate – Offices This is Offices within Class B1 of the Town and Country Planning (Use Classes) Order and not A2
    Commercial Real Estate – Industrial This includes warehousing, distribution centres, stores, logistics, 3PL’s, trade-counter, air-hangers, cargo units, refrigeration
    Commercial Real  Estate – Retail Including high street retail, supermarkets, department stores, retail warehousing, hairdressers, undertakers, travel agencies, post offices, dry cleaners, internet cafes, high street banks, betting offices
    Commercial Real Estate – Hotels and Leisure Including hotels, motels, B&B’s, public houses, bars, restaurants, nightclubs, amusement parks, caravan parks
    Commercial Real  Estate – Healthcare Including Hospitals, Care Homes, Respite, Day centres
    Commercial Real Estate – Educational Including Schools, Colleges, Universities, Nurseries, Museums, Secure Residential Institutions such as Prisons, Custody Centres, Young Offenders Institutions etc
    Commercial Real Estate – Infrastructure, Transport and Roadside Including Service Stations, Petrol Stations, Car Showrooms, Garage
    Commercial Real Estate Other Other commercial real estate
    Residential Real Estate This includes dwelling houses used by a single person or by people to be regarded as forming a single residence
    Agricultural and Rural Property Including live and dead stock
    Minerals and Waste Quarries, Waste Transfer Sites, Mines, Off-shore rigs
    Arts and Antiques  
    Plant and Machinery  
    Development land and property – Residential  
    Development land and property – Commercial  
    Business Valuation and Intangible Assets Including Goodwill, Branding etc – not to be confused with valuation of pubs and such like which is leisure
    Other Any other Red Book Valuation activity

Q3

If Business Valuation and Intangible Assets was selected, do you wish to join the RICS Regulated Business Valuer Scheme?

Q4

Purpose of Red Book Valuation

Please select the purposes for which you carry out Red Book Valuation work. Once you have selected all the purposes, please state the top five Red Book Valuation activities in order of importance e.g. 1, 2, 3, 4, 5.

Please select all valuation purposes which you carry out Red Book Valuations. You can select as many, or as few, options as is appropriate to you, provided that you select at least one option from the list. If you do not carry out any of the listed activities please select “other”.

For further details/definition of the purpose of Red Book Valuations, please see below.

Red Book Valuations

  • Purpose

    Definition

    Loan Security

    For lending purposes, refinancing and securitisation

    Financial Reporting

    Accounts purposes, stock exchanges, takeovers and mergers, Unit Trusts

    Investment Portfolio

     

    Taxation Assessment

    Includes Capital gains, inheritance

    Probate/Matrimonial

    Divorce/division of estate/death

    Purchase and Same Reports

    Where there is a third party reference, not solely pricing advice, which is exempt from PS1.2

    Statutory Compensation

    Includes Compulsory Purchase etc. Not where valuations are subject to separate statutory processes such as Business Rates and council tax assessment

    Rental valuation

    Residential/commercial

    Disputes and Legal proceedings

     

    Other

     

    You must rate at least one purpose of valuation with the importance value 1. Importance values must be entered in sequence 1,2,3,4,5.

Red Book Valuation Procedures

RICS Rules for the Registration of Schemes requires Members to carry out their professional work with due skill, care and diligence and with proper regard for the technical standards expected of them.

Q5.1

Do you prepare and are you a signatory to Red Book Valuations?

Having this information will help RICS understand the extent of valuation activity that you undertake.

If the valuation is prepared under your supervision please answer ‘No’ to this question. Please see question 5.3.

Q5.2

Do you carry out the preparation of Red Book Valuations, which are then signed off by another individual?

Having this information will help RICS understand the extent of valuation activity you undertake.

Q5.3

Are you a signatory to Red Book Valuations that have been prepared by another individual? 

Having this information will help RICS understand the extent of valuation activity you undertake.

Q5.4

Which of the following RICS regional currencies will you be using to answer the following questions? Please note all subsequent questions should be answered in the same currency. 

Using the same currency for all answers will help RICS fully understand the extent of valuation activity you undertake.

Q5.5

What was the highest value individual Red Book Valuation that you carried out in the last 12 months? 

Having this information will help RICS understand the extent of valuation activity you undertake. An approximate figure is acceptable for this entry.

Q5.6

What is the firm’s total fee income from Red Book Valuation services in the last 12 months? 

Having this information will help RICS understand the extent of valuation activity you undertake.

Use a currency converter to find the GBP equivalent.

Q5.7

What Data sources does your firm/organisation normally use for your Red Book Valuations? 

Please select all data sources which your firm use for your valuations.  You can select as many, or as few, options as is appropriate to you, provided that you select at least one option from the list.  If you do not use any of the listed data sources please select “other”.

Q5.8

Does your firm have a recognised quality assurance audit procedure in place that is used for Red Book Valuation services? 

We require this information for regulatory purposes.

Q5.9

Have you been removed or suspended from a panel (except where this has been part of a bank rationalising panels)? 

We require this information for regulatory purposes.

Q5.9a

If yes, please provide further information. 

We require this information for regulatory purposes.

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