Conflict of Interest

Question 1

Which RICS guidance covers conflicts of interest?

Answer 1

RICS Professional Standard Conflict of Interest 1st Edition 2017

Question 1

What are the five types of conflict of interest under the Avison Young Conflict of Interest Policy?

Answer 1

Party Conflict (RICS)
Own Interest Conflict (RICS)
Multi-disciplinary Firms
Related Firms
Confidential Information Conflict (RICS

Question 2

Does your company have guidance on conflicts of interest?

Answer 2

Yes, the Avison Young Conflicts of Interest Policy

Question 3

How do you ensure when starting a job that no conflicts of interest are identified?

Answer 3

We have a team who input all the client data and the job location into the computer system which then carries out checks on the client, the job location and other related companies

Question 4

What are the conflicts of interest under the RICS Professional Standard?

Answer 4

Party Conflict
Own Interest Conflict
Confidential Information Conflict

Question 5

What does the RICS professional standard say about allowing conflicts?

Answer 5

Allowed if:
- is in interests of those affected
- Not illegal
- Doesn’t prevent diligent and competent service being given

Question 6

What are the requirements for firms in relation to conflicts of interest?

Answer 6

• identify conflicts of interest
• Keep records of decisions made and where informed consent obtained, and measures taken to avoid conflicts of interest arising

Question 7

Can you describe the different conflicts of interest (RICS)?

Answer 7

Party conflict - Where the interest of one client on an instruction conflict with the interests of another client in relation to the same instruction.

Own interest conflict - where ones own interest conflict with the client on an instruction

Confidential information - Where we would have to disclose the confidential information of one client in order to complete the instruction for another client

Question 8

How would you determine if you could continue with an instruction where there is a conflict of interest?

Answer 8

I would use the managing conflict flow chart which we have as part of the AY policy.

Is it ethically right to act in the conflict? If yes proceed

Can we act objectively for the client? If yes proceed

Is it possible to obtain informed consent? If yes proceed

If all yes then continue otherwise inform the client we cannot proceed on the instruction

Question 9

Can you give an example of a conflict of interest which you have encountered?

Answer 9

I was completing a TDD survey on a building for the developer of a student accommodation block in Manchester (refurbishing old student block) and my company/ team was also acting as the monitor for the bank funding the project.

As part of our set up of the project this flagged up the potential party conflict and then we went through the conflict checklist. This determined that it was ethically right to act in this situation, and we could act objectively surveying the building. It was possible to obtain informed consent from the clients and we were able to proceed.

Question 10

What is the definition of a conflict of interest?

Answer 10

A conflict of interest is when a duty of care to a client is affected, or could be affected, by another relationship or instruction