Ethics, Rules of Conduct and Professionalism Flashcards
What is the role of the RICS?
Highest standards of education / training
Protect consumers through Professional Standards
Leading source of information on land, property, construction and environment
When was the RICS founded?
1868
Royal Charter 1881
How many members of the RICS are there?
137,500
What is the composition of the RICS?
Governing Council 25 members
President of the RICS?
Ann Grey
What is the Bichard Review?
Followed from the Levitt Review
to;
- Clarify the role of the RICS to work in the public best interest
- Make recommendations on its governing structure
- Provide proposals for the incoming leadership and governing body on
the future culture and strategy of the instruction
What were the main recommendations of the Bichard Reivew?
1) Focus on public interest - (Public interest panel)
2) Maintain self-regulation
3) Increase focus on diversity and inclusion
4) Enable members through greater support
5) Undertake independent reviews of governance every 5 years
6) Simplified, clear, accountable structure
7) Show greater leadership on the largest current issues (Sustainability / climate change)
What are the benefits of the RICS?
Kite mark of excellence in the interest of consumer protections
Status
Recognition
Knowledge
Network
If your business became RICS chartered what are the benefits?
Confidence
Professionalism
Security
What information does the RICS require in order to register a Firm?
1) Type of business & staffing details
2) Nature of clients
3) Complaints Handling Procedure
4) PII details
5) Client Money Handling Procedure
6) Statutory Regulate Activity
What is the First Rule of Conduct?
Honest, act with integrity and comply with personal and RICS obligations
Can you give me an example of how you comply with the first rule of conduct in your work life?
What is the Second Rule of Conduct?
Maintain professional competency and ensure services are provided by a competent individual
Can you give me an example of how you comply with the Second rule of conduct in your work life?
When instructed by a client to conduct a valuation for a portfolio of both residential and commercial units I informed the client of my lack of expertise in commercial valuation and referred them to our commercial valuations team
What is the Third Rule of Conduct?
Provide a good quality diligent service
Can you give me an example of how you comply with the Third rule of conduct in your work life?
I ensure to stick with the scope of work laid out and signed in the Terms of Engagement
When valuing a portfolio consisting of mostly flats I ensure to conduct additional due diligence on any blocks that might pose a a fire risk
What is the Fourth Rule of Conduct?
Treat other with respect and encourage diversity and inclusion
Can you give me an example of how you comply with the Fourth rule of conduct in your work life?
When working in agency I ensure I put all offers received by any potential purchaser through to the client
What is the Fifth Rule of Conduct?
To act in the publics best interest, take responsibility and work to prevent harm
Can you give me an example of how you comply with the Fifth rule of conduct in your work life?
When instructed on a new job I always make sure to carry out a conflicts of interest check
- To insure there are no personal or company conflicts that could harm
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What is Appendix A of the RICS?
Set out core professional obligations details for all RICS members and firms
What are the Mandatory Obligations of Members? (Appendix A)
Comply with CPD requirements
Cooperate with the RICS
Promptly provide information reasonably requested by the Standards Board
What are the Mandatory Obligations of Firms? (Appendix A)
- Publish Complains Handling Procedure
- Dispute resolution provider approved by RICS
- If a sole principle make appropriate arrangements for work to continue
in the event of injurie or death - Cooperate with the RICS
- Promptly provide all information requested by the Standards Board
- Display Business Literature in accordance with RICS
What is the Ethics Decision Tree?
Provides a frame work of questions members should ask them sleeves when facing a potential unethical situation
- Legality of action
- Consistency with the Rules of Conduct
- If public knowledge would you be happy
- RICS Regulation Confidential Hotline with offers