Client Care

Question 1

What processes need to be in place for handling clients money?

Answer 1

Client must always have access to funds
Must be identifiable
Must not be overdrawn
Interest on account must be agreed with client

Question 2

What components must a complaints handling procedure include?

Answer 2

RICS sets out two minimum stages;
Stage 1: acknowledge complaint asap (no more than 28 days), handled by complaints handler, free of charge.
Stage 2: If firm unable to resolve must be taken on by third party approved by RICS, must all be recorded, note PI insurers immediately

Question 3

What is client care?

Answer 3

Looks after the clients best interests and providing an appropriate service that satisfies the clients needs.

Question 4

When should you decline an instruction of new work from a client?

Answer 4

• Conflict of interest
• Not in clients interests (cannot resource job properly)
• Activity is illegal

Question 5

How would you limit the risk of working with a client who may be financially unstable?

Answer 5

• Credit Check
• Company search
• Internal Accounts DD