Valuer registration scheme launched

The RICS’ scheme, conceived by the Valuation Professional Group, sets out an approach to reinforce professional standards and raise consumer confidence in the delivery of valuation advice to the highest professional standard  –  a key component underpinning most economic activity.  More than 800 separate written responses were received in a ten week consultation period last year and an approach was chosen which members deemed appropriate to achieve proportionate and better regulation in the market place.

The scheme will be formally launched on 20 October in the UK and will become mandatory in the UK from 30 April 2011. This will apply to all members undertaking valuations carried out under RICS Valuation Standards (the Red Book) which provide a regulated framework and practice guidance and standards, including compliance with International Valuation Standards which are now recognised and adopted in most parts of the world.  Phased launches will follow in the rest of the world.

David Rushholme, RICS director of valuation said:

"The new scheme will increase quality, and accuracy in the profession raising even further the credibility of valuers among clients and public authorities. This advance will ensure that RICS continues to undertake better regulation and provide increased value to valuers and their clients while acting in the public interest.”

Mark Gerold, chair of the RICS Valuation Professional Group said:

"We have been delighted with the enthusiasm of our members for this scheme which will reinforce the pre eminence of Chartered Surveyors as the leading valuation professional wherever they practice in the world. The events of the last two years have clearly demonstrated the value of sound, independent and consistent advice delivered to globally accepted standards. That is just what the Chartered Surveyor does and Valuer Registration further underpins this with effective and practical self regulation.’’

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0 thoughts on “Valuer registration scheme launched

  1. P Deacon

    This scheme provides no more assurance of quality than the Red Book. It is unecessary and unwanted and from my experience, the rank file membership is by and large opposed to it.

    In typical manner the RICS held a sham consultation process for an accreditation scheme which members soundly rejected. RICS returned with this registration scheme for which there was no consultation. This is a typical political trick and members will almost certainly see it morph in to the original proposal without further consultation.

    The costs of RICS membership are being hiked annually; this is yet another excuse to extract revenue from a hard pressed membership in a recession; far from being in the public interest, it will result in higher fees to cover additional overheads.

    RICS has become a parasitic organisation feeding off the lifeblood of the membership.