What is the Royal Institute of Chartered Surveyors (RICS)?

The Royal Institute of Chartered Surveyors (RICS) is a professional membership organisation for property Valuers and multi discipline Surveyors. The RICS is involved in setting professional standards, training, qualifications, publishing guidance for best practice, and representing the industry to government policymakers. The RICS also runs a range of events that help develop professionals in areas including education management, investment appraisals, insurance claims handling, and residential valuations.

Surveyors value property - ranging from an individual's home to large-scale developments - for many reasons including conveyancing, taxation, insurance, loan security, compensation after theft, or damage to property & planning applications. RICS members provide expert advice on how to maximise the value of your home - whether you are selling it or planning to keep it for life.

The RICS was founded in 1868 by a group of eminent Surveyors who saw the need for a professional body to regulate and support those working in property. The RICS has 140,000 members (2021) who operate out of 146 countries, supported by an extensive network of regional offices located in every continent around the world. RICS members work across all property sectors - commercial, residential, agricultural, and rural land. RICS has offices around the world and 43 local RICS associations which provide direct support to RICS members in their respective territories . RICS also provides services to its international professional network via 28 regional and area councils and statutory recognition and representation through national and international organisations.

RICS operates a number of initiatives including:

• RICS Think Space – help develop policy makers' understanding of major urban developments;

• RICS Enterprise – RICS support to small and medium-sized businesses;

• RICS Education – help train young people in the skills they will need in the 21st century.

RICS also publishes RICS Valuation and RICS Farmland, RICS world's leading titles on property valuation and agriculture respectively.

In addition, RICS represent its member's interests on a range of major industry bodies including Local Government Group (LGIG), Assessors and Valuers Association (AVA) , International Valuation Standards Council (IVSC), Royal Institution of Chartered Surveyors Foundation for Enterprise & Construction (FEC).

The RICS is a not-for-profit organisation that offers four membership grades known as "qualifications": Associate, Associate of RICS, Member, and Fellow; RICS also offers a "chartered surveyor" qualification. RICS qualifications are recognised throughout the world as evidence of a high standard of education, professionalism, and integrity.

RICS allows people to study for a RICS qualification at various levels depending on experience and ability – from Technician through to Chartered Surveyor. Individuals can gain accreditation across five disciplines – building surveying, commercial property, land management, rural land management, and residential property.

Surveyors who have been awarded their RICS qualifications are entitled to use the designatory letters MRICS , FRICS or ARICS. In order to gain these letters individuals must demonstrate an appropriate range of professional knowledge, adhere to RICS's Code of Professional Conduct, and work to RICS's ethical guidelines. RICS qualifications are set at the same high level throughout the world which means RICS surveyors can operate anywhere.

RICS membership grades include Associate (ACA or ASc), Chartered Surveyor (MRICS, FRICS or ARCS), Fellow (FFRICS). All RICS members hold a minimum of one relevant RICS qualification - most have two qualifications most commonly MRICS + ACA or MRCS+FRICS. RICs is not a governing body but influences areas including education & training, international policy development through conferences & research reports, best practice guidance publication, and continued professional development.

ICS represents UK RICS members' interests in a range of major industry bodies from local government group (LGIG) to the international valuation standards council (IVSC), RICS education, RICS farmland, and RICS world-leading titles on property valuation and agriculture. RICs is also able to provide member services which include: Rics workshops, Rics think space, Rics enterprise, Rics publications both journals and manuals as well as expertise through local Rics associations & regional councils.

Key Takeaways

• RICS is a globally recognised professional body that establishes and enforces regulations for aspects of the built environment.

• The Royal Institute of Chartered Surveying (RICS) is a nonprofit organisation that was founded in 1871. They maintain ethical conduct and competence-related standards in several facets of real estate, construction, infrastructure, and engineering.

• The organisation has over 140,000 accredited professional members worldwide.

• Membership in RICS requires the appropriate education and years of relevant experience.