RICS is a global professional body promoting and enforcing international standards in the valuation, management and development of land, real estate, construction and infrastructure.
Protecting the public interest
With offices covering the major political and financial centres of the world, our market presence means we're ideally placed to influence policy and embed standards at a national level.
We work at a cross-governmental level, delivering a single, international standard that will support a safe and vibrant marketplace in land, real estate, construction and infrastructure, for the benefit of all.
We accredit 125,000 qualified and trainee professionals and any individual or firm registered with us is subject to our quality assurance. We're proud of our reputation and we guard it fiercely, so clients who work with our registered professionals can have confidence in the quality and ethics of the services they receive.
History and structure
As a global professional body, integrity has been our watchword since the late 19th Century.
RICS is incorporated by Royal Charter, which sets out our mission. We promote the usefulness of the profession for the public’s advantage.
In practice, the Charter means that important changes to our constitution — its byelaws — have to be ratified by the UK Government, even after they’ve been approved by a majority of our professionals voting at a general meeting.
We are one of a number of professions operating under a self-regulation model, which means our professionals aren't regulated by government but are internally monitored and inspected. Our self-established standards of regulation meet, and in some cases surpass, the Government's own principles on better regulation.
Consumer protection and the development of the profession for public advantage are very much at our core. These are the reasons we have retained our Royal Charter status for well over a century. We are very proud of this position and recognise the responsibility placed upon us. This is why we are consistently working to ensure we set the standards for professional regulation, not just in the UK but around the world.
Introducing legislation to regulate a sector of industry which is already applying modern practices, regulating at arms-length and operating in a business-like manner, would be costly, time-consuming and unnecessary.
Legislation should only be applied if a self-regulation system is not working — if it is not transparent, proportional, accountable, consistent and targeted. These are the five principles of better regulation determined by the Better Regulation Commission, a division of the UK Cabinet Office, on which we base our own regulatory model.
Effective and efficient regulation of the sector is vital to the profession's success. While the government regularly reviews the approval it bestows on professional self-regulators, we aim to continuously demonstrate that we maintain a regulatory regime that is leading at the front and is fit for purpose.