The standard was originally implemented by the Royal Institute of Chartered Surveyors (RICS) in 2021 to raise standards and public confidence in residential surveys
The RICS home survey standard consultation seeks its members’ opinions on keeping the standard fit for purpose.
The standard lays out a framework for RICS members and firms to deliver home surveys that match the needs and expectations of consumers.
A recent survey investigated its effectiveness
More than 325 RICS members participated in a survey, which discussed both the effectiveness of the current standard as well as what could be improved.
At the same time, a consumer survey with more than 1,400 homeowner participants was carried out to find out what the public’s views are on home surveys.
Using results from both of these, a draft of a new RICS home survey standard has been made and is now subject to formal consultation. This will run alongside another consultation into a potential home survey regulation scheme.
Both consultations are open now for six weeks, before the draft of the standard will be reviewed by the Knowledge and Practice Committee, and the Standards and Regulation Board.
Gary Epps, chair of the Expert Group, commented: “The RICS Home survey standard is a key document underpinning consumer confidence and professional practice in the residential market.
“Since its introduction, it has helped ensure consistency and clarity in home surveys across the UK.
“This update reflects our commitment to maintaining best practice, adapting to market developments, and listening to the views of members and consumers alike. We encourage all stakeholders to engage with the consultation and help shape the future of home surveying.”
More information can be found here.
RICS are adapting to changing times
In April, the CEO of RICS, Justin Young, wrote an update for all RICS members describing how the institute is responding to changes in the industry, sector, and in the day-to-day work of surveyors.
Justin wrote: “We’re now working to gain a deeper, data-based knowledge of how these challenges are impacting members, and so you can expect to receive an email in the coming days from our survey partner Savanta, asking to you to answer a handful of questions about skills. Findings from the survey will help RICS to shape its ongoing response to these challenges, allowing us to develop strategies that reflect your needs, now and as they continue to change. We’ll also use this data to give weight to our advocacy and influencing work, including supporting governments across the world to develop impactful policies.
“While developing skills and welcoming new talent is critical, it’s also important that we provide meaningful support for our membership throughout all phases of their career. This includes creating a concessions framework that is fit for the future. Last year, we made a commitment to deliver a new framework – one that is simple to understand and implement, and supports those who need it most when affordability challenges arise. We are in the process of developing this long-term concession framework in collaboration with representatives from key groups, including Governing Council, World Regional Boards and DEI forums. The new framework will be based on data and insight, which we are collecting through data analysis, market research, a series of workshops and external validation to ensure we shape an approach that is equitable and financially sustainable.”
The update can be read in full here.
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