Client Care Flashcards
You say you can cross sell your services, please tell us what services you company provides?
Residential
Commercial
Agricultural
commercial agency – sales and lettings
land and development
investment and strategic portfolio advice
acquisitions
commercial valuations
business rates review
rent review negotiations
lease renewal negotiations
asset management
compulsory purchase
development appraisal
What is the minimum cover required for an RICS firm?
Professional indemnity insurance protects you against claims for loss or damage made by clients or third parties as a result of the impact of negligent services you provided or negligent advice you offered.
Turnover £100k or less = min cover £250k
Turnover £100K-£200K = min cover £500K
Turnover £200k + = min cover £1m
What procedures has your company put in place to maintain high standards?
All work is counter reviewed prior to issuing to the client.
Work to be conducted in specific time frame, and if not, reasons why provided to the client.
What does your companies complaints handling procedure include?
Located on our website, internal intranet and can be requested.
Arnolds Keys procedure sets out:
A) who the Complaints Officer is
B) Acknowledgement of complaint within 3 working days
C) Within 15 working days a writing response providing outcome of investigation and actions taken
D) If unsatisfied after the final in-house stage or after 8 weeks, you can request a free independent review.
The Property Ombudsman and Centre for Effective Dispute Resolution.
(RICS model CHP 7 day acknowledge / 28 day investigate response )
How do you store your clients information at Arnolds Keys?
Internal filing system and software, stored securely and with permission.
What is the UK legislation relating to data protection?
The Data Protection Act 2018 is the UK’s implementation of the General Data Protection Regulation (GDPR). It governs how personal data is used by organisations, businesses, and the government.
Key principles include lawfulness, fairness, transparency, purpose limitation, data minimisation, accuracy, storage limitation, integrity, confidentiality, and accountability. It also grants individuals rights over their personal data, such as access, rectification, and erasure.
Personal data must not be kept for longer than necessary for its intended purpose (storage limitation principle).
What is the General Data Protection Regulation (GDPR) ?
An EU law that sets rules for collecting, processing, and storing personal data. It applies to organisations handling EU citizens’ data, ensuring transparency, security, and accountability.
What are the different fee structures?
Fixed Fee
Hourly Rate
Percentage Fee
Performance-Based Fee
Retainer Fee
Minimum valuation fee £950
0.175 plus VAT for anything over £150,000
What formal communication systems to you use at work?
Emails
Letters
Report
What KPI’s are you aware of in your company?
Commission Revenue
Lettings/Sales Volume
Deal Conversion Rate
Client Retention Rate
Time on Market
Number of Instructions
Talk us through your instruction at Caston Primary School, you mentioned that the client was seeking a report in a specific time frame, why was that?
The client required a 4 day turn around for negotiations, we were transparent with our fees and meet the client requirements.
What was your special assumption in the valuation of land to the east of Shipdham Road, Dereham?
That no contamination was present.
Define Special Assumption?
An assumption that either assumes facts that differ from the actual
facts existing at the valuation date or that would not be made by a
typical market participant in a transaction on the valuation date. In some jurisdictions these are also referred to as hypothetical conditions.
When would you handle clients money?
Deposits
rent collection
service charge
What are the requirements for RICS firms holding client money?
Hold client money in a controlled, authorised client account.
Client Money Account – Funds must be held in a designated client account, separate from business funds.
Identification – Accounts must be clearly labelled as holding client money.
Client Consent – Written agreement on how funds are handled.
Record Keeping – Accurate, up-to-date records of all transactions.
Reconciliation – Regular bank reconciliations to ensure accuracy.
Interest Handling – Clear policies on whether interest is retained or paid to clients.
Protection – Adequate safeguards, including insurance and controls against fraud.
Prompt Payments – Client money must be transferred or used as agreed.
Audit Compliance – Annual reviews and independent audits where required.
What is the RICS Client Money Handling Professional statement ?
The RICS Client Money Handling Professional Statement sets mandatory rules and best practices for handling client money. It ensures transparency, security, and accountability.
Contents:
A) RICS standards framework
B) RICS client money protection
C) scheme Rules
D) Introduction
E) Mandatory Requirements
F) Guidance
What is the RICS Client Money Protection Scheme for Surveying Services?
In April 2019 RICS updated the scheme rules for client money protection following the Client
Money Protection Schemes for Property Agents Regulations 2018 coming into effect.
RICS-regulated firms that hold client money must therefore ensure that they are registered with the appropriate RICS scheme
What is the relevant RICS documentation relating to client care?
RICS Complaints Handling Professional Standard 1st Edition 2016
RICS Client Money Handling, 1st edition Professional Standard 2019
What is the relevant legislation relating to client money ?
The Client Money Protection Schemes for Property Agents (Requirement to Belong to a Scheme etc.) Regulations 2019
