Mandatory Flashcards
Highlight another time when you provided high client care?
Instruction to sell land. Facilitated weekly meetings with team & client. Maintained communication with client between meetings to update any important updates. Ensured site was disposed of within client timeframes.
Highlight a time when you provided high client care?
Updated planning conditions tracker on a monthly basis on status of pre-commencement conditions for a residential development. Updated tracker with all comments that had been received from planning officers. I ensured information was accurate and honest highlighting full explanations where approvals weren’t received within my clients timescales
Highlight a time when you showed good communication?
Presented monthly at governance meeting which outlined status of planning application submission for a residential opportunity. USed presentation slides to support my topic and ensure my client had time ahead of the session to review the presentation to ensure most efficient use of the session.
What are some examples of good negotiation skills?
Find mutually beneficial outcome
Understand your own requirements and limits ahead of entering negotiation
Good communication, not aggressive
What are safety briefings?
Safety briefings are short talks that detail health and safety hazards that workers will face and should be attended by everyone who will work on the particular site (including sub-contractors and key members of the supply chain).
What’s in a profit and loss statement?
A profit and loss statement (or income statement) is a summary of business income and expenditure transactions, prepared on an annual basis
What’s a balance sheet?
A balance sheet (or statememt of financial position) shows a business’ assets + liabilities at a given date (i.e. end of year)
What are my team’s financial performance targets?
MOC of 20% in all developments
What is my company’s business plan?
Economic Target 8-10% core operating ROE from FY24
Environmental Target of net zero carbon by 2025, Absolute zero by 2040
Social Target £250m of social value creation by 2025
What are some Conflict Avoidance tactics?
- Clear concise drafting of contracts
- Proactive analysis of what could go wrong
- Good records
What is some of the key standards within the RICS Conflicts of Interest 2017
A member must not advise or represent a client where doing so would involve a conflict of interest other than where all those who are, or may be affected have provided consent.
- All conflicts must be managed in accordance with the professional standard
- All firms must have in place effective systems + controls to ensure compliance
- All firms must keep records of all conflicts
What are some of Dispute Resolution Procedures?
First port of call is negotiation. Most extreme is litigation.
There are then dispute resolution processes that fall outside of the scope of litigation, called Alternative Dispute Resolution.
What are some Alternative Dispute Resolution services?
- Adjudication
- Mediation
- Arbitration
- Expert Determination
What is adjudication?
Under Construction Act 1996, any party can refer an issue in a construction contract to an impartial adjudicator
What is mediation?
Instruct an experienced mediator to help sort out issue
What is arbitration?
Agreeming for decision to be made by an independent arbitrator. Abitrator’s decision is final and legally binding.
What is expert determination?
Technical expert is appointed to conduct investigation. Expert determination is often used for technical issues instead of legal. Can be legally binding, or not.
What is an example of an ADR service?
RICS Dispute Resolution Service
What is the role of a surveyor in dispute resolution proceedings?
- Acting as an expert witness
- Acting as an advocate in front of certain tribunals
What is the aim of the Data Protection Act 2018?
- As UK no longer follows EU GDPR.
- UK Data Protection Act aims to create a single data protection regime affecting business.
- It empowers individuals to take control of how their data is used.
- Gives people right to be informed about how their data is being used.
What are the key requirements of the Data Protection Act 2018?
- Individuals to have rights to access info on what personal data is held and have it erased
- Data controller
- ‘Data accountability’ for firms to highlight to ICO about how they manage data
Who polices the Data Protection Act? and what could the fines be?
Information Commissioners Office (ICO)
Fines up to 4% of turnover or £17.5m
What are some of the 8 individual rights under UK GDPR?
- Right to be informed
- Right to access
- Right to erase
- Right to object
What is an NDA?
Legally enforceable document between two parties relating to sensitive info
What are some social & Economic benefits to Diversity + Inclusion?
- Better creativity and problem solving
- Smarter decision making
- Lead to increase in profits + productivity
- Reduces rates of employer turnover
- Improve business reputation
What is unconscious bias?
the associations we hold, outside our conscious awareness and control
What has RICS signed up to to ensure D+I?
Memorandum of Understanding Plan (MoU) intended to create a more diverse, equitable and inclusive sector
What review highlights that RICS needs to improve D+I
Bichard Review
What is an inclusive environment?
Is one which is designed + managed to allow people with a diverse range of needs + abilities to access and use it
What is the Equality Act?
The act consolidates discrimination law and provides protection against a wide range of discrimination
What are the nine protected characteristics of the Equality Act?
- Gender reassignment
- Sex
- Sexual orientation
- Age
- Disability
- Race
- Religion
- Marriage or Partnership
- Pregnancy or maternity
What are the four types of illegal discrimination?
- Direct Discrimination
- Indirect Discrimination
- Harassment
- Victimisation
What is in the Building Regulations, Part M
Guidance on access to + use of buildings. Now includes two volumes:
- Access to and use of dwellings
- Category 1 - Visitable Dwellings
- Category 2 - Accessible & adaptable dwellings
- Category 3 - Wheelchair user dwellings - Access + use of non dwellings
Why is client care important?
Repeat business with client
Good reputation within the business
Obligation to have a high duty of care. Make sure no negligence claims made against you
What is the Bank of England base rate?
5.25%
What is the current inflation rate?
3.4%
What are some BCIS stats about tender price inflation?
Tender prices increased by an average of 0.5% between Q4 2023 and Q1 2023. Annual growth of 2.9% in BCIS all-in tender price index.
Down from 10.3% in Q2 2022
What are some of the recent changes to fire regulations?
Fire Safety Act 2021. Fire risk appraisals of external walls need to be carried out, less reliance on EWS1 forms.
Some recent negligence case law?
Hope Capital vs Alexander Reese Thompson (2023)
Highlighted that purpose of valuation is central to the extent of valuer’s duty when considering a negligence claim. Was not stated in purpose of valuer’s opinion that lender could rely on their advice to enter into a transaction.
What are some planning updates recently?
Adjustment to Class MA use class, scrapping limit to 1,500 sqm + 3 month vacancy before submission
Introducing new Use Class C5, for short term lets to require planning permission. If it is your main or sole home, can lease it up to 90 days without requiring planning permission
NPPF 2023
What are some Professional updates?
RICS launched ‘Developing an Inclusive Culture’ guidance. Highlights good practice in Inclusive Space, Inclusive Recruitment, Inclusive Policies
RICS’ first Residential Retrofit Standard (2024). Ensures that consumers who are carrying out a retrofit seek the advice from a professional to ensure public interest
What is the data protection act?
controls how your personal information is used by organisations, businesses or the government.
