The Royal Institution of Chartered Surveyors (RICS) has published a global standard, titled ‘Property Agency and Management Principles’.
This global standard, reflecting the changing nature of the work carried out by RICS members and RICS-regulated firms, covers residential and commercial auctioneering, property agency and management, and mixed-use real estate.
It is a mandatory requirement for RICS members and RICS-regulated firms, and supports a new framework for property agencies and management.
Much of the new standard focuses on requirements for openness and transparency for businesses supplying clients with services.
The standard aims to protect consumers and enhance the reputation of the industry and the public’s confidence in surveyors across the world.
The standard was developed by a group of professionals chaired by Kelly Smith, chief operating officer letting and management at Allsop, and authorship was led by RICS senior specialist for property Mairéad Carroll.
The professional standard will become effective from 1st January 2025, and RICS is organising webinars for members over the coming months.
Carroll said: “This important standard sets clear expectations for RICS professionals when providing property agency and management services.
“These mandatory standards apply to RICS members globally and will assist and enhance customer service and confidence in the many crucial services that surveyors provide worldwide.”
