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Flashcards in The Structure of RICS Deck (49)
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1

Who are RICS?

Global leading professional body promoting the highest standards in the property industry

Gold standard of professional regulation

2

What year was the Surveyors Club formed?

1792

3

What happened in 1868?

John Clutton elected first president of Institution of Surveyors and RICS founded

4

When was RICS founded and by Who?

1868 founded by John Clutton

5

When was RICS incorporated by Royal Charter?

Privy Council granted this to RICS in 1881

Granted by the Queen, a prestigious way of acquiring legal personality and reflects the high status of that body (i.e. RICS)

6

What did the Royal Charter enable RICS to do?

A patent granting right of power to an individual / corporate body (in this case RICS)

It defines its objectives, constitution and powers to govern its own affairs

Changes to byelaws (RICS constitution) ratified by UK Government Privy Council after being approved by majority at a general meeting

7

What regulations and laws govern the RICS?

RICS = self-regulated

Not regulated by Government - legislation only required if self-regulation not working

Set of RICS Regulations and Bye Laws

5 principles of better regulation (TPACT) - transparent, proportional, accountable, consistent and targeted

8

What are the functions of RICS?

Consumer protection

Influence policy

Set standards

Accredit professionals

Quality assurance

9

What are the benefits of being regulated by RICS?

Commitment to highest standards

Open to independent scrutiny

Ethical approach

Protection (via Professional Indemnity Insurance - PII)

Security (via Complaints Handling Procedure - CHP)

Guarantee of professional training and experience

10

Who is the CEO (Executive Team)?

Sean Tompkins

11

Who is the RICS President (Presidential Team)?

Timothy Neal FRICS

12

Who is the President Elect (Presidential Team)?

Kath Fontana FRICS

13

Who is the Senior Vice President (Presidential Team)?

Ann Gray FRICS

14

What is the RICS London HQ address?

Parliament Square, 12 Great George St, Westminster, London SW1P 3AD

15

How many countries does RICS operate in?

146 countries

16

How many members are a part of RICS?

140,000 members

17

What are the 3 market sectors covered by RICS?

Land

Property

Construction

18

What are the main RICS membership types?

RICS Student / Trainee

Chartered Member (MRICS)

Associate Member (AssocRICS)

Fellowship Member (FRICS)

19

How do you become an Associate (AssocRICS)?

Completion of associate qualification. Must meet one of the following:
- 1 year of relevant experience and a relevant bachelor's degree
- 2 years of relevant experience and relevant higher/advanced/foundation qualification
- 4 years of relevant experience (no qualifications required)
- Direct entry via membership of approved professional body

20

How do you become a Fellow (FRICS)?

5 years post award MRICS

Managerial position / leadership role

Significant contribution to the profession

Raising profile of RICS

Academic / technical achievement

21

What is the role of the RICS?

Regulate the profession

Maintain highest educational and professional standards

Promote the profession

Protect clients and consumers through a strict code of ethics

Provide impartial advice, analysis and guidance

22

What does the RICS do?

RICS is the world's leading professional body for setting standards in the surveying industry

RICS promotes and enforces highest professional standards in the development and management of land, real estate, construction and infrastructure

To maintain the highest standard of education and training

To protect consumers through strict regulation of PS

23

What is the RICS mantra?

“There is measure in all things”

24

Who is RICS accountable to?

RICS Members

The Public

25

Why do you want to become a RICS chartered surveyor?

I would like to become part of one of the most respected and high-profile organisations for professionals involving property with the benefits of providing status, recognition, knowledge, a network and a market advantage.

The chartership is recognised globally, enabling me to work internationally via a transferable skill set

26

What are the six benefits of being a RICS member?

1. Develop your expertise and earning potential

2. Build a global professional network

3. Enhance your skills and employability

4. Make your mark on the world around us (regular market surveys and consultations)

5. Demonstrate higher professional and ethical standards

6. Broaden your horizons and lead the debate

27

What are the current challenges facing RICS?

The impact of big data and artificial intelligence (transparency and reliability of data)

Climate change (sustainability)

Urbanisation

Loss of institutional trust

28

Where did the RICS 7 Pillars come from?

Part of RICS Futures: Planning for the Future, which is based around 7 pillars

29

What are the RICS 7 Pillars?

o Pillar 1: Thinking ahead
o Pillar 2: Leadership and Inspiration
o Pillar 3: Sustainability
o Pillar 4: Multidisciplinarity and Lifelong learning
o Pillar 5: Networks and Collaboration
o Pillar 6: Technology
o Pillar 7: Ethics, Values and Standards

30

What are some recent RICS initiatives?

June 2019: LGBT+ Toolbox Talk

February 2020: Making adjudication affordable for SMEs

May 2020; RICS Online Residential Property Conference