Ethics, Rules of Conduct & Professionalism

Question 1

How many Rules of Conduct are there?

Answer 1

5

Question 2

Examples of a Conflict of Interest?

Answer 2

1. Acting for both buyer and seller
2. Acting for two or more parties competing for an opportunity
3. Valuing for lender where advice already provided to borrower or the broker
4. Valuing property previously valued for another client of the same valuer or firm
5. Valuation for third-party consumption where the valuers firm has other fee-earning relationship with client
6. Valuing both parties’s interests in a leasehold transaction.

Question 3

What is Rule 1 (CoC)?

Answer 3

Members and firms must be honest, act with integrity and comply with their professional obligations and obligations to the RICS.

Question 4

What is Rule 2 (CoC)?

Answer 4

Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.

Question 5

What is Rule 3 (CoC)?

Answer 5

Members and firms must provide good-quality and diligent services.

Question 6

What is Rule 4 (CoC)?

Answer 6

Members and firms must treat others with respect and encourage diversity and inclusion.

Question 7

What is Rule 5 (CoC)?

Answer 7

Members and firms must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession.

Question 8

What date did the new Rules of Conduct come into effect?

Answer 8

2 February 2022