At the end of 2025, the RICS Standards and Regulation Board (SRB) approved the Valuation Compliance Framework (VCF) and its guidance for use in a pilot phase.
The pilot phase allows RICS to work closely with firms to test how the Framework operates in practice. It will help identify:
- areas where clarification or additional guidance is needed
- any operational or resourcing challenges
- whether the Framework is proportionate for different firm types
- refinements required ahead of wider rollout.
This collaborative approach ensures the final VCF is practical, workable, and reflective of the valuation profession.
Amnesty during the Pilot
As this is a learning and testing phase, firms may not yet have fully implemented the VCF. Pilot assessment responses should therefore be open and honest.
Information provided will be used to refine the Framework, guidance, annual return and monitoring process. RICS will undertake monitoring and assurance activities on a small sample of participating firms to understand how they are complying with the Framework. No RICS disciplinary action will be taken in relation to any gaps in procedures and requirements that are new for VCF implementation.
However, participation in the pilot does not override or diminish existing professional requirements of RICS members and regulated firms. All members and firms must continue to meet their ongoing professional and regulatory obligations throughout the pilot.
Which firms will take part?
The pilot will involve:
- RICS‑regulated firms with more than one valuer, based in the UK or UAE
- selected non‑regulated firms in these regions, invited directly by RICS.
Firms in the UK and UAE not invited may express interest via the Expression of Interest form: Valuation Compliance Framework (VCF) Pilot - Expression of Interest Expressions of interest forms need to be submitted by 17 April 2026 to allow induction and completion of the process.
All expressions of interest will be considered, but participation must ensure balanced representation across the regulated firm population. All selected firms will be invited to an initial workshop.
Pilot programme outcomes
Insights from the pilot will inform the final VCF and supporting guidance. Findings will help shape future regulatory approaches and reinforce RICS’ commitment to high-quality valuation practice, professional independence, and public confidence. Quality valuation practice, professional independence, and public confidence.
Additionally, aggregated data and insights may help identify trends across the valuation profession, enabling RICS to tailor future guidance and support for firms.
Key dates
Expression of Interest deadline: 17 April 2026
Annual return submission: 31 July 2026 (subject to adjustment, depending on the pilot timeline)
Workshops will be scheduled shortly after firm selection.
If you have any queries about the Valuation Compliance Framework (VCF) or expression of interest form, please contact RICS by email at VCFPilot@rics.org.