RICS Registered Valuer: Meaning, Certification, Role & Qualifications

RICS Registered Valuer: Meaning, Certification, Role & Qualifications

What Is RICS?

RICS stands for the Royal Institution of Chartered Surveyors. It is a globally recognised professional body headquartered in the United Kingdom that sets and enforces international standards for professionals in:

• Real estate and property valuation

• Land and built environment

• Construction and infrastructure

• Property management and facilities management

Founded in 1868, RICS operates in over 140 countries and is regarded as the gold standard for professionalism, ethics, and technical competence in the property and construction sectors.

What Does RICS Mean in Property Valuation?

In property valuation, RICS represents global best practice. It establishes uniform valuation standards to ensure that valuation reports are:

• Accurate and evidence-based

• Independent and impartial

• Transparent and well-documented

• Consistent across international markets

RICS valuation standards are published in the RICS Global Valuation Standards, commonly referred to as the “Red Book.”

What Is a RICS Registered Valuer?

A RICS Registered Valuer is a qualified valuation professional who is:

• A member of RICS (MRICS or FRICS), and

• Officially registered under the RICS Valuer Registration Scheme (VRS)

This status confirms that the valuer is competent, ethical, and authorised to provide valuations in compliance with RICS Global Valuation Standards (Red Book).

RICS Registered Valuers are subject to continuous monitoring, professional audits, and mandatory continuing professional development.

RICS Certification and Registration Process

To become a RICS Registered Valuer, an individual must:

1. Hold an accredited academic qualification

   • Degree in valuation, real estate, land economics, or a related discipline

2. Gain relevant professional experience

   • Practical valuation experience under supervision

3. Become a Chartered Member of RICS

   • Achieve MRICS (Member) or FRICS (Fellow) status through the RICS Assessment of Professional Competence (APC)

4. Register under the Valuer Registration Scheme (VRS)

   • Demonstrate valuation competence

   • Show compliance with ethics, risk management, and quality control

5. Maintain ongoing compliance

   • Mandatory Continuing Professional Development (CPD)

   • Regular RICS monitoring and audits

Qualifications of a RICS Registered Valuer

A RICS Registered Valuer typically holds:

• A university degree in:

  • Real Estate

  • Land Economics

  • Valuation

  • Property Studies

• Professional designation:

  • MRICS (Member of RICS), or

  • FRICS (Fellow of RICS)

• Specialist valuation training under the RICS Red Book

• Demonstrable experience in property valuation practice

Role of a RICS Registered Valuer

The primary role of a RICS Registered Valuer is to provide independent, objective, and defensible property valuations in accordance with international standards.

Key Responsibilities Include:

• Inspecting and analysing property assets

• Conducting market research and comparable analysis

• Applying appropriate valuation methodologies

• Preparing Red Book–compliant valuation reports

• Declaring conflicts of interest and ensuring independence

• Advising clients on value, risk, and market trends

Types of Valuations Conducted by RICS Registered Valuers

• Mortgage and lending valuations

• Investment and commercial valuations

• Residential property valuations

• Land and development valuations

• Portfolio and asset valuations

• Financial reporting (IFRS) valuations

• Statutory and compulsory acquisition valuations

Why RICS Registration is Relevant

A RICS Registered Valuer has;-

• International credibility of valuation reports

• Acceptance by banks and global investors

• Compliance with ethical and professional standards

• Reduced risk of disputes

• Consistency across jurisdictions

RICS valuation reports are widely relied upon by lenders, courts, governments, institutional investors, and multinational corporations.

A RICS Registered Valuer represents the highest professional standard in property valuation. RICS certification ensures that valuations are ethical, accurate, transparent, and globally accepted. For complex, high-value, or international property transactions, engaging a RICS Registered Valuer provides confidence, credibility, and professional assurance.