The Red Book is issued by RICS as part of our commitment to promote and support high standards in valuation delivery worldwide. The publication details mandatory practices for RICS members undertaking valuation services. It also offers a useful reference resource for valuation users and other stakeholders.
RICS standards and qualification are widely recognised within governments and throughout global markets. The four fundamental pillars which underpin an RICS valuer’s professional credentials in line with the use of the Red Book Global Standards include:
Why choose Red Book Global Standards
Enhanced technical and market knowledge With RICS Registered Valuers, your business can promote their local market knowledge, must be combined with profound understanding of international market trends as well as the ability to communicate estimates of value consistently around the globe. Your clients can rest assured that valuations made in line with the Red Book Global Standards offer clarity and disclosures to be made and expertise in the valuation field, with independence, transparency and objectivity in each valuation carried out. The Red Book offers sound and reliable valuation with the broad range of local and global factors that influence market value and drive occupiers and investors preferences. |
Highest professional standards & principles RICS Valuations raise confidence in your businesses ability to provide assurance to, clients and valuation users alike, that services provided by an RICS qualified valuer anywhere in the world will be undertaken to the highest professional standard overall. Valuations from RICS Registered Valuers are taken in accordance with the International Valuation Standards (IVS) and the Red Book. Both are part of our commitment to promote and support high standards in valuation delivery worldwide with mandatory practices for RICS members undertaking valuation services. |
Recognition for valuation reports globally RICS sets itself apart as the world’s leading qualification when it comes to valuations of any assets and purposes. At the heart of this credibility lies the RICS Red Book Global Standards which ensures that a consistent valuation approach and reporting is used. This offers quality assurance to reduce risk in asset valuations as well as a practical implementation framework for compliance with globally recognised high level valuation principles and definitions such as embodied in the International Valuation Standards (IVS) set by the International Valuation Standards Council (IVSC), ensuring that valuers follow consistent methodologies around the world. |
Use of the Red Book offers best practice & consistency Committed to setting and upholding the highest standards of excellence and integrity, RICS provides impartial authoritative advice on key issues affecting your business and society. Its role is to qualify and regulate both individual members and firms providing the basis for unparalleled client confidence in the sector and giving global advisory support. With RICS Valuations, clients and employers are able to provide and receive credible and consistent valuation opinions by suitably trained valuers with appropriate qualifications and adequate experience for the task. Businesses using RICS Registered Valuers can be recognised by their MRICS or FRICS designation and firms by the ‘Regulated by RICS’ logo. |
Heightened business reputation & trust in services RICS as a professional body has existed for more than 150 years essentially due to the public confidence it benefits from. This trust in the qualification and the services provided by members is maintained through continuous training, adherence to ethical and professional standards and stringent self-regulation that your business can be a part of. These are also the very reasons why Many banks, investors, pension funds and insurers across Europe recognise RICS qualifications and standards and choose RICS professionals as best practice. They often include these in their terms of reference and contracts with third party providers, as well as job advertisements. |
Rest assured with RICS Valuer Registration (VR) RICS has developed a regulatory monitoring system – Valuer Registration – to ensure the consistent application of the Red Book Valuation Standards worldwide. This allows your business quality of valuations, raised credibility, and provide clients with a clearly identifiable designation for the best-regulated and qualified professionals in the field. RICS Regulation monitors all registered members who are working in the valuation profession doing Red Book valuations. It reviews and investigates complaints against members and firms in case of a breach of RICS’ Code of Conduct. This allows an additional quality assurance to your clients and stakeholders that the highest standards are being maintained. |
