Mandatory L2 and L3

Question 1

Can you explain the ethical dilemma in which you were offered money?

Answer 1

• Investment properties across Birmingham, Telford and Stoke
• Offered £20 towards lunch
• Rejected because:
• Maintain integrity
• RICS Mandatory note to not accept anything constituting a bribe
• Against SW Gifts Policy:
   Can’t accept cash or vouchers
   Offered with intention of influencing

Question 2

• How does the relationship between yourself, the bank and the customer work?

Answer 2

We have a duty of care to the bank who are our customer.

We have an instruction, terms of engagement and agreements in place between ourselves and the bank regarding the work.

They are arranging a valuation for secured lending purposes on behalf of their customer’s property, as part of their own investigations and security checks.

Question 3

• How did the offer of money cause an ethical dilemma?

Answer 3

The offer was unethical as it was offered with the intention of influencing and affecting our attitude towards the customer.

This would then be believed to be a bribe under the RICS Countering Bribery document and also within company policy to not accept cash or vouchers.

Question 4

Can you explain the ethical dilemma during the sale of the Leeds property?

Answer 4

• During the sale by Informal Tender, was asked to reveal what offers had already been made.
• Final deadline was set
• I could not disclose these details
• Bids should be opened in front of a witness
• No escalator bids to be accepted (this is within the letter sent for best and finals)

Question 5

Can you explain the dilemma when the bank’s customer attempted to influence your valuation?

Answer 5

• Loan security valuation of a residential property near Richmond in North Yorkshire.
• Banks customer was keen to increase the value
• I valued around £1M and they had already spent £1M on the property
• Speaking on the phone and via emails attempting to push the valuation