Questions Flashcards
(35 cards)
What is BIM?
Building information modelling - managing information throughout the lifecycle of a property
Professional obligations of firms?
- Must have and publish complaints handling process
- Must have appropriate PI insurance
- Firms with sole principal must have arrangements for their professional work to continue should they be incapable or due
- Firms must cooperate with RICS
- Provide all information to RICS board
- Must denote that they are an RICS regulated firm
- Must report any matter that is required to the RICS
Main forms of alternative dispute resolution?
Mediation - 3rd party who facilities discussions between the parties
Arbitration
Independent expert
What is arbitration?
Private and legally binding dispute resolution process in which and independent arbitrator is appointed to review the evidence to make a decision
Difference between arbitration and litigation?
Arbitration is a private dispute resolution process
Litigation involves formal legal court proceedings
Most successful negotiation?
3 Optrex
Asking rent
Additional licence fee
Example of difficult negotiations ?
8 Optrex
5-7 church street
Portman centre external
Vision cars arrears
How to improve negotiations?
Communication
Face to face
SWOT analysis
What does SWOT stand for?
Strength weakness opportunities threats
What is your companies procedure in client feedback?
Regular meetings both on site and in the office
Calls
Emails
Difference between market rent and estimated rental value?
Market rent assumes VP
ERV considers further specifics on if the buildings is occupied eg lease terms
What is meta data?
Information on a specific bit of data eg photo - date taken, location
What is the freedom of information act?
UK legislation that grants members of the public the right to access information held by public authorities
Key persons under GDPR?
Controller - the person that determines the purpose of holding the data
The processor - the person that processes the data
The data protection officer - the person overseeing the data protection approach
8 rights under GDPR
Right to be Informed
Right to Access
Right to Rectification
Erasure
Restrict
Portability
Object
Decision making and profiling
Key principles of GDPR
Use lawfully
Relevant to use
No longer than necessary
Securely
Accurate
What is sustainability?
Needs of meeting the present without compromising the future generations
Key principles of sustainability
Social - healthy communities
Economic - strong economies with sufficient use of land
Environmental - enhance our built environment without damaging natural spaces
What is your understanding of COP29?
Where world leaders discussed the climate and how to address the global crisis of this.
Incentivising companies and countries to lower their emissions
Overview of the RICS sustainability report ?
The 2024 report provided an updated in the current state of the sustainability of the built environment
Green leases/ buildings
BREEAM
EPC
Your client is insistent you work with them despite a conflict of interest, how do you manage this?
Check the clients understanding of the conflict of interest
Agree all of this formally and in writing
Explain main principles of the bribery act?
Offences :
- making a bribe
- receiving a bribe
Prevention
1) proportionate procedures
2) top level commitment
3) risk assessment
4) due diligence
5) communication
6) monitoring and review
What is the RICS doing to improve Diversity and inclusion?
International women’s day
Pride 2023 LGBTQ+
Professional standards vs practice information?
Professional standards - requirements and expectations for RICS members (mandatory)
Practice information - guidance and tools (advisory)
