Matt - Hot Topics and General Market Knowledge

Question 1

Are you aware of any RICS guidance in relation to social media?

Answer 1

Yes, the RICS published a paper called “Use of Social Media: Guidance for Members Version 1” which took effect from June 2021

Question 2

What can you tell me about the RICS publication regarding social media?

Answer 2

The publication states that the same standards stipulated in the RICS Rules of Conduct apply whether communicating face to face or electronically like on social media

Question 3

How do you ensure that you operate in line with RICS guidance on the use of Social Media?

Answer 3

1. I ensure that I am polite and professional, including the responsibility of representing the RICS
2. I would never make a post that is dishonest or would cause an offence in any way, as this would undermine public confidence in the profession

Question 4

When would the RICS investigate a social media post by one of its members?

Answer 4

If a post is:

1. Dishonest
2. Discriminatory, abusive or threatening
3. Likely to cause significant harm or distress
4. Shows a pattern of frequent or large number of concerning communications
5. Ignores previous advice or warnings about concerns

Question 5

Are you aware of any attempts by the RICS to improve diversity and inclusion?

Answer 5

Yes, the RICS have launched the “RICS Inclusive Employer Quality Mark”

Question 6

Can you tell me a bit about the RICS Inclusive Employer Quality Mark?

Answer 6

It is a scheme designed to improve diversity and inclusion within the property and construction sector.

Firms are required to adopt six principles such as staff development, retention, engagement.

Their performance will be assessed on a bi annual basis and the findings used by the RICS for the profession as a whole.

Participating firms can use the branding of “Signatory to the RICS Inclusive Employer Quality Mark.”

Question 7

Please explain your understanding of the Levitt review.

Answer 7

This was a report carried out by Alison Levitt KC following a Treasury management audit in 2018.

The review was carried out as a result of a financial issues caused by poor cash flow forecasting where the RICS had to extend its overdraft by £3m, and because of the treatment of 4 non executive governing council members that raised concerns.

The RICS accepted all recommendations from the Levitt review.

Question 8

Please explain your understanding of the Birchard review.

Answer 8

This was a review commissioned by the RICS and carried out by Lord Birchard as a result of the Levitt review, to review the purpose, governance and strategy of the RICS.

There were 36 recommendations which are being implemented and some of these include:

1. Improvement of technology within the RICS
2. Diversity and inclusion panel will be setup to advise the RICS Board and Standards and Regulatory Board
3. RICS Matrics should give younger members a stronger voice and having a seat on the Governing Council
4. A changing of the RICS structure
5. Simplification of RICS publications

Question 9

What other things are the RICS doing regarding diversity and inclusion?

Answer 9

1. International Women’s Day
2. Pride

Question 10

How have RICS publications changed as a result of the Birchard review?

Answer 10

This has led to a simplification of the publications which supersede the previous professional statements, guidance notes and codes of practice, and are now:

1. Professional standards - mandatory
2. Practice information papers - advisory

Question 11

What are professional standards?

Answer 11

Sets out requirements for Members and Firms that are mandatory and must be followed

Question 12

What are practice information papers?

Answer 12

This is supporting guidance to advise surveyors in delivering specific services or working in specific areas of practice.

Question 13

Are you aware of any changes to planning legislation?

Answer 13

Town and Country Planning Uses were updated to allow more flexibility, introducing new classes and remove outdated ones

Question 14

Do you know why the planning use classes were updated?

Answer 14

1. To enable the repurposing of buildings on high streets and town centres
2. The new class E allows for a mix of uses to reflect changing retail requirements and allowing flexibility with different uses to happen at different times of the day

Question 15

Are you aware of some of the aims of the RICS Business Plan 2024?

Answer 15

1. Incorporate the recommendations of the Levitt and Birchard reviews and continue their push for diversity and inclusion.
2. Reduce funding deficits, avoid increasing subscription fees, and pay back government any monies owed from COVID
3. Be recognised as a sustainable 21st century body and maintain and increase demands for RICS services and qualifications