The Royal Institution of Chartered Surveyors (RICS) is introducing its quality standard for companies in Continental Europe. The ‘regulated by RICS’ designation provides a system to ensure compliance with the organisation’s requirements and deal with complaints. RICS pioneered the designation in the UK two years ago. RICS president Robert Peto told PropertyEU at EXPO REAL in Munich that 10,000 firms in the UK now carry the ‘regulated by RICS’ stamp on their letterhead.
The Royal Institution of Chartered Surveyors (RICS) is introducing its quality standard for companies in Continental Europe. The ‘regulated by RICS’ designation provides a system to ensure compliance with the organisation’s requirements and deal with complaints. RICS pioneered the designation in the UK two years ago. RICS president Robert Peto told PropertyEU at EXPO REAL in Munich that 10,000 firms in the UK now carry the ‘regulated by RICS’ stamp on their letterhead.
‘We intend to introduce it in Germany and Continental Europe from 2011,’ he said. Valuation is the core aspect covered by RICS and all members have to comply with the regulations outlined in the organisation’s ‘Red Book’. Peto said RICS is working through its Brussels office to help establish a common metric for valuation and sustainability in Europe.
Property professionals in Europe are increasingly seeking a RICS qualification. The organisation has seen 20% growth in membership in Continental Europe in the last 12 months. Membership in Germany grew by a factor of three. ‘There is no question that people are looking for a professional. They want quality and property professionals they can trust. The rise in RICS membership in Europe is a reflection of this,’ Peto said.
Originally established in the UK in 1868, RICS says it provides the world’s leading professional qualification in land, property and construction. It has 100,000 qualified members and over 50,000 students and trainees in 140 countries.