Mandatories Flashcards
(26 cards)
What is your firms complaints handling procedure?
At JLL we acknowledge a complaint within 7 days. Afterwards we launch an investigation within 28 days and have an outcome of that complaint. We ensure to let our insurers know as a complaint could result in a claim being made. If the person making the complaint is not happy with the outcome they can go through ADR.
How do you provide good client care?
By understanding what they want, looking at the bigger picture, and maintaining market knowledge by attending CPD to keep up with professional development.
How do you maintain good communication and negotiation?
By using the communication methods that best suits my client such as emails, team meetings or face to face. I always ensure to agree with my client’s objective. I ensure that I walk away if need be especially if we can come to a compromise.
What is included in a company’s accounts?
Chairmans statement
Auditors report
Income statement (profit and loss)
Statement of financial position (balance and sheet)
Corporate governance report
Other statutory information
What is a profit and loss statement?
A company’s income and expenditure over a set period of time usually a year or three years.
What is a balance sheet?
A company’s asset and liabilities at a set period in time.
What is the international financial reporting standard?
A set of rules followed globally that are designed to ensure financial reporting is consistent.
What is UK GAAP?
Generally Accepted Accounting Principles - set of rules that company’s follow when preparing their financial accounts, ensures consistency throughout.
What is included in a business plan?
Analysis of opportunities and risks that the company is facing
SWOT Analysis
Budget forecasting
What is a LLP, Limited Company, and PLC?
LLP combine elements of a partnership and limited company
Limited Company are separate from their owners
PLC are publicly traded.
What is conflict avoidance?
Not taking an instruction because the conflict impacts your impartiality to the client.
What is conflict management?
Having barriers in place to manage the conflict that can be information barriers or physical barriers - written informed consent is required.
What is ADR?
Alternative Dispute Resolution - resolution processes outside of litigation. Types include arbitration, adjudication, mediation.
What is arbitration?
An external third party that has specialist knowledge of the area of dispute. They lay the facts down for the parties to come to a solution. Arbitration is legally binding.
What is an independent expert?
A third party expert that can be appointed on a case. They’re determination can be binding. They are under the duty to make their own investigation.
What is mediation?
Facilitates discussions between parties to explore a solution. Informal process.
What is acting as an expert witness?
An expert that is appointed by the court, their duty of care it to the court and no one else. Expert witness must be indpendent, unbiased, and truthful. An expert witness can not be appointed on a success related fee basis.
What is acting as an advocate?
A surveyor can be an advocate to their client in a court case. The surveyor has a duty of care to the court but also their client. They are not to mislead or deceive the court.
What are the relevant guidance note on ADR?
Surveyors Acting as Expert Witnesses 4th Edition
Surveyors Acting as Advocates 2017
Surveyors Acting as Arbitrators in Commercial Property Rent Review Disputes 2013
Why is diversity and inclusion important?
It best represents the public that we represent and have a duty of care to. It also allows for us to have different ways of thinking to give our clients quality work.
What is the Equality Act 2010?
Sex
Sexual orientation
Gender reasignment
Age
Disability
Religion
Marriage
Pregnancy
Race
How have you encourage diversity and inclusion?
In line with Rule 4 I have been a part of an initiative to help students from a lower socio economic background know more about the industry and the possible jobs that are available to them. It included having mentoring sessions at our office so that they are exposed to the industry.
How can a firm encourage diversity and inclusion?
For a large company:
Ensure offices are more accessible to visitors
Consider how to make job postings available to all
Champion minority owned businesses
For smaller firms:
Think how to recruit a wide range of backgrounds
Job descriptions and ads should be inclusive
Put in workplace policies such as parental leave and caring responsibilities
How are the RICS promoting diversity and inclusion?
They have signed a Memorandum of Understanding Action Plan to make the industry more diverse, equitable and inclusive. In order for it to be more representive the soceity it serves.
