Sustainable development in one of the world’s largest built environments: Meet Eric Wo FRICS

How did you first get involved and eventually choose to join RICS?

When I first started working in the real estate industry in Hong Kong, I heard many of my friends talk about RICS, and I was well aware that this certification enjoys a very high reputation in the international arena. Especially in the UK, the RICS is regarded as an essential qualification for property professionals. There were quite a number of my colleagues who had already passed the RICS examination and become members and I also hoped to join the RICS. However, I had not worked in Hong Kong for a long time before I was transferred to work in the Mainland, and I did not know that there was an RICS office in the Mainland. Around the same time, I was honoured to be invited as a RICS assessor to help more industry professionals to understand and join the RICS. I am actively involved and committed to the work related to the assessor, and in 2016, the RICS awarded me the Royal Institution of Chartered Surveyors West China assessor's Annual Contribution Award. Thank you to RICS for the trust and affirmation in me.

How has membership impacted and changed your career?

In terms of my own career, I have benefited from joining the RICS, which is not only a professional accreditation, but also a platform for connecting real estate professionals across the globe.

On the one hand, the RICS has set strict professional and ethical guidelines which, by following them, not only enhances my personal professionalism and ethics in the industry, but also ensures that every project meets the highest standards of quality and integrity.

On the other hand, the resources and platforms provided by the RICS allow me to have more opportunities to participate in international trainings and seminars, where I can continuously update my knowledge and skills in my field of expertise. This continuous learning and expansion not only facilitates my personal professional growth, but also helps me to manage teams and projects more efficiently and to implement international best practices.

Thirdly, the most important thing is that through the RICS platform, it has helped me to build a wider network of contacts within the industry and make many like-minded friends. These links and exchanges have not only enhanced friendships between members, but also transformed into more and more extensive business co-operation opportunities, which is vital to the development of both me and my company. In particular, I have since been fortunate enough to become a RICS Assessor, and through my participation in the RICS exams and training, I have also had the opportunity to be involved in the development of emerging trends and standards in the property industry, which not only contributes to the long term development of the company, but also puts me and the company at the forefront of change in the industry.

What advice would you give to increase their international recognition in the field of real estate or construction?

Firstly, I suggest actively obtaining professional qualifications such as RICS, which is an important way to endorse your professional competence, and strictly abide by the industry's code of ethics and professional standards to establish a good professional reputation. Secondly, actively participate in industry events to learn about cutting-edge industry information, listen to the professional experiences and best practices of industry experts, expand your network and socialisation through participation in industry associations, seek professional guidance, and gain wider access to industry information and project opportunities from experienced peers.

What role do you think the RICS standard has played in improving the transparency and credibility of the industry?

The RICS sets strict professional and ethical standards for its members that are based on impartiality, independence and transparency and are essential to the health of the real estate industry. These standards cover everything from property valuation to estate management to ensure that all members follow the same guidelines, improving the consistency and quality of operations across the industry. At the same time, the RICS requires its members to provide clear, accurate and complete information in their reports, a commitment to transparency that helps prevent the spread of misleading information and ensures that all stakeholders can make informed decisions.

Could you share some examples of successfully integrating RICS standards into your daily work?

Working at a real estate consultancy with interests in property management, facilities management, land and asset valuation, commercial property, district planning, urban regeneration, digital transformation and sustainability, the RICS provides comprehensive industry guidance and standardised practices across all sectors of our business through global standards, professional research and industry data. Through training, examinations and different types of professional events, the RICS has built a professional platform that provides staff with the market insights, high standards and best practice to stay ahead of the competition in the industry. For example, Savills valuation business follows the RICS Red Book Global Standards, and the Savills valuation team members are all RICS registered valuers. Only RICS qualified valuers are authorised to put their name to property valuation reports, which not only demonstrates credibility and professionalism of the valuation reports, but also provides our clients with full confidence in our valuation reports. In terms of team building, we also prioritise the employment of staff with the RICS qualifications and actively encourage existing staff to gain RICS membership through training and study.

What challenges have you encountered in promoting the RICS standard? And how have you overcome these challenges?

Savills has always adhered to the international standards of the RICS to promote its business and services and have made them the basic guidelines for staff to practice. However, in the Chinese market, there are some locally-operated firms that may not have adopted the same high standards, and may even sometimes sacrifice service quality or professional standards for short-term gain, which puts some pressure on us. However, from a long-term perspective, Savills has always believed that international, standardised and professional service standards and practice guidelines with a global perspective are our core competence. After years of market penetration, our clients' trust and recognition have further proved that adherence to international standards and professionalism is the key to realising the value of our brand. To this end, we continue to invest in our team to ensure that they are able to adapt to changes in the market and maintain their service standards.

How do you see the role of the RICS standard evolving in the industry in terms of future trends?

I am confident that the RICS standards will evolve in response to changing market demands, rapid technological advances and profound changes in the global economy, as the RICS pushes for its standards to become more comprehensive, advanced and internationalised to ensure that its members are able to adapt to the continuing changes in the industry environment and new trends in market demand. These changes will not only provide new opportunities for professionals in the property and construction sectors to use the latest technology to improve efficiency and quality of service, but also provide clients with the assurance of a higher quality of service, ensuring that their investment decisions are based on solid and reliable information. The future development of the RICS standards will help to raise the level of professionalism across the industry, promote best practice in sustainable development, and enhance global co-operation and communication, thereby creating greater value and trust for all stakeholders.

Expectations and recommendations

As a long-time member of RICS, I would like to take the opportunity of this interview to talk about my expectations and suggestions for the future of the RICS.

The RICS is a platform for communication, and I believe that many people in the industry who wish to join the RICS would like to know more about the industry, learn more about cutting-edge knowledge, and get to know more partners in the industry through this professional platform. Perhaps due to the impact of the epidemic over the past few years, the RICS has seen a decrease in the number of offline communication opportunities in recent years, and we hope RICS can create more opportunities for free face-to-face communication and seminar for members under RICS new strategy. and provide members with a larger and broader international value of the RICS platform.

In addition, in terms of professional learning, we hope that the RICS could bring more opportunities to learn about cutting-edge international standards, technologies and case studies, and create more opportunities for members to engage in professional and academic exchanges.