HT - RICS UPDATES Flashcards
Please explain your understanding of the RICS Business Plan?
The RICS business plan for 2024 focuses on four major areas:-
1. Sustainability Leadership - RICS aims to lead on global issues such as
decarbonisation, climate resilience, biodiversity, and the circular economy. This
involves strengthening carbon measurement standards, influencing policymakers,
and equipping members with training and tools to address sustainability challenges.
2. Attracting Diverse Talent - Efforts are underway to attract a wider range of individuals
into the profession. This includes modernising the assessment process, increasing
support for early-career professionals, and creating grants and bursaries for
underrepresented groups.
3. Enhancing Member Engagement - RICS is working on improving the value and
experience for its members. This includes better understanding their needs through
data insights, creating stronger connections among members, and promoting their
work and professionalism publicly.
4. Strengthening Trust - The institution plans to enhance public trust by refining its
regulatory processes, ensuring transparency, and maintaining high standards for
ethical and technical practices.
Are you aware of any guidance that applies to RICS Members when using Social
Media?
The RICS introduced the Guidance Note ‘Use of Social Media: Guidance for
Members Version 1.
This took affect from 30th June 2021.
The Guidance note sets out the same standards as stipulated in the RICS Rules of
Conduct and reminds members that these do not change whether communicating via
social media, face to face or traditional forms of media.
How do you ensure you operate inline with RICS guidance on the use of Social
Media?
I am always sure to use social media in a responsible and professional manner in the
same way that I communicate via face to face or other written forms of
communication.
I am sure to use professional and respectful language when communicating and
understand the responsibility in representing the RICS.
I would never make a post that is dishonest or would cause offence in any way.
I realise that this could potentially undermine public confidence and trust in the
profession.
When would the RICS investigate a Social Media post made by one of its members?
An investigation may take place if a social media post is:-
1. Discriminatory.
2. Dishonest.
3. Abusive or threatening.
4. Likely to cause significant harm, distress or offence to a person.
5. Shows a pattern of frequent or large number of concerning communications.
6. Ignores previous advice or warnings about concerns.
Please explain your understanding of the RICS Inclusive Employer Quality Mark?
The RICS is launching a scheme known as the Inclusive Employer Quality Mark.
This is designed to improve diversity and inclusion within the property and
construction sector.
The scheme requires employers to pledge their commitment to adopting and
continually improving against the following six principles:
1. Leadership and Vision.
2. Recruitment.
3. Staff development.
4. Staff retention.
5. Staff engagement.
6. Continuous improvement.
Participating firms will be required to assess their performance against the criteria on
a bi-annual basis.
RICS will use the assessment information to document the outcomes and trends for
the profession as a whole.
Participating firms are able to use the branding of, ‘Signatory to the RICS Inclusive
Employer Quality Mark’.
What are the New Rules of Conduct?
Rule 1. Members and firms must be honest, act with integrity and comply with their
professional obligations, including obligations to RICS.
Rule 2. Members and firms must maintain their professional competence and ensure
that services are provided by competent individuals who have the necessary
expertise.
Rule 3. Members and firms must provide good-quality and diligent service.
Rule 4. Members and firms must treat others with respect and encourage diversity
and inclusion.
Rule 5. 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.
Explain your understanding of Rule Number 1?
Having reviewed the example behaviors in adhering to Rule 1 RICS Members and
firms should not allow themselves to be influenced improperly through the
acceptance of work referrals, gifts or hospitality.
Members and Firms must also be sure to identify conflicts of interest and not provide
services or advice where these conflicts of interest occur.
This could be a scenario where you have reduced impartiality due to an existing
relationship, for example being friends with a Main Contractor who has subsequently
been selected to submit a tender would form a conflict of interest.
Explain your understanding of Rule Number 2?
To ensure compliance with Rule 2, Members and firms must only act for clients
where they have the necessary knowledge, skills and resources to carry out the work
competently.
Firms must supervise any employees or subcontractors undertaking work on their
behalf, for example requesting that a Junior Surveyor undertakes a complex
valuation due to resourcing issues would create problems in achieving compliance
with this Rule. Instead an experienced and suitably qualified surveyor should be
asked to undertake the valuation.
Explain your understanding of Rule Number 3?
As an RICS member or regulated Firm we must also be sure to understand a clients’
project specific requirements before acting on their behalf. The clients’ scope of
services should be agreed along with any exclusions and timescales for achieving
each of the deliverables before signing up to formal terms of engagement.
Explain your understanding of Rule Number 4?
The RICS also expects its members to respect the rights of others and treat others
with courtesy.
We need to ensure that everyone is treated fairly and look to eliminate any instances
of discrimination on the basis of age, disability, gender, pregnancy, race, religion or
sexual orientation.
RICS members and firms also need to adopt a no tolerance policy of bullying or
harassment.
Explain your understanding of Rule Number 5?
Members and firms are required to question practices and decisions that they
suspect are not right and raise concerns with colleagues, senior management, clients
or the RICS.
When making public statements we need to ensure these do not undermine public
confidence in the profession.
When receiving and processing complaints, we need to ensure these are dealt with
promptly, openly and professionally.
In complying with Rule 5, a useful sense check to ensure compliance is to ask
ourselves if we would be comfortable in standing behind our actions if these were
brought into the media or a public forum.
Why did the previous Rules of Conduct change?
The previous rules had been in place since 2007.
Following research and consultation with RICS Members, Firms and Members of the
public, the majority voted in favour of replacing the existing Rules of Conduct and
separate Global Professional and Ethical Standards.
This was to provide a single document to enable greater clarity for RICS members
and firms.
There is now a greater focus on clearer example behaviors, understanding evolving
technology and tackling climate change.
Talk us through your understanding of the changes?
The Rules of Conduct October 2021 Global Practice Statement will overhaul the
previous separate documents:
Rules of conduct for Members.
Rules of Conduct for Firms.
Global Professional and Ethical Standards.
Appendix A of the Rules of Conduct now contains the professional obligations of
Members and Firms.
What are the professional obligations of members?
1. Members must comply with the CPD requirements set by the RICS which requires
20 hours of CPD for each calendar year, 10 hours of which must be formal CPD.
2. Members must cooperate with RICS.
3. Members must promptly provide all information reasonably requested by the
Standards and Regulation Board, or those exercising delegated authority on its
behalf.
What are the professional obligations of firms?
1. Firms must publish a complaints-handling procedure, which includes an alternative
dispute resolution provider approved by RICS, and maintain a complaints log.
2. Firms must ensure that all previous and current professional work is covered by
adequate and appropriate professional indemnity cover that meets the standards
approved by RICS.
3. Firms with a sole principal must make appropriate arrangements for their
professional work to continue in the event of their incapacity, death, absence from or
inability to work.
4. Firms must cooperate with RICS.
5. Firms must promptly provide all information reasonably requested by the
Standards and Regulation Board, or those exercising delegated authority on its
behalf.
6. Firms must display on their business literature, in accordance with RICS’ published
policy on designations, a designation to denote that they are regulated by RICS.
7. Firms must report to RICS any matter that they are required to report under the
Rules for the Registration of Firms.
What are the main benefits of Diversity & Inclusion?
Diverse and inclusive environments help to:
1. Attract skilled professionals from diverse backgrounds.
2. Establishes a sense of belonging among employees.
3. Encourage employees to feel more connected.
4. Increases productivity.
5. Reduces staff turnover.
6. Allows employees to feel valued and accepted.
What is the RICS doing to improve Diversity & Inclusion?
The RICS has setup ‘Diversity & Inclusion leadership’ which is a knowledge hub
allowing the RICS to share ideas on how and why diversity & inclusion is so
important to the RICS.
This has included initiatives such as:
1. International Women’s Days celebrating the achievement of Women in our
profession.
2. Pride 2023: LGBTQ+ equality pledge focusing on the importance of LGBTQ+
representation in the profession.
3. The McGregor-Smith Review – aiming to develop black and ethnic minority
talent within the profession.
Please explain your understanding of how the RICS define Professional Standards vs.
Practice Information?
Following the Bichard Review and its recommendations the RICS have introduced
two new definitions for Professional guidance which are now split into Professional
Standards and Practice Information.
These supersede the former definitions including Professional Statements, Guidance
Notes and Codes of Practice etc.
Professional Standards - set out requirements or expectations for RICS members
and regulated firms with a focus on baseline expectations for competence and ethical
behavior. They contain mandatory requirements that surveyors must follow, where
the word ‘must’ is used with best practice that surveyors should follow, where the
word ‘should’ is used.
Practice Information – set out supporting guidance to advise surveyors in delivering
specific services or working in specific areas of practice. The guidance is not
mandatory and does not provide explicit recommendations. Practice Information can
refer to processes, toolkits, checklists, insights, research and technical information or
advice.
