The Royal Institution of Chartered Surveyors (RICS) has introduced a helpline and ‘decision tree’ to help its members navigate difficult situations where their professional ethics may be at stake.

The Royal Institution of Chartered Surveyors (RICS) has introduced a helpline and ‘decision tree’ to help its members navigate difficult situations where their professional ethics may be at stake.

The measures are part of a broader effort by RICS and a number of international property organisations to promote ethics in the real estate profession.

The heightened focus on ethics comes as a European Commission report on corruption in the European Union singles out the real estate sector as one which is vulnerable to bribery and corruption.

The results of the EC study, which covers 28 EU member states, reveal a distinctive regional picture, with the highest rates of corruption existing in countries such as Bulgaria, Romania, Poland and Italy.

The study found that the land, construction and real estate sectors rank amongst the most likely targets for bribery and corruption, with the major attraction for organised crime being the opportunity for money laundering.

Besides a helpline offering legal and other advice to members in controversial situations, RICS has also designed a decision tree (see image below) to help guide them in their decisions.

At a broader level, RICS is also working with other organisations to create greater transparency in the real estate profession by developing and implementing a set of international property measurement standards that are principle-based and internationally applicable.

The standards are aimed at promoting consistent measurement across international markets, creating a more transparent marketplace, greater public trust, stronger investor confidence and increased market stability.

Commenting on the efforts, Jörn Stobbe FRICS, RICS Europe chairman, said that ‘corruption threatens the integrity of markets, undermines fair competition, distorts resource allocation, destroys public trust and undermines the rule of law’.

He continued: ‘Europe is a complex region with different cultures and challenges. RICS is working to ensure a greater transparency, integrity and professionalism in the European real estate markets, which will be the basis for long term success in all European countries.’