Last edited 22 Oct 2016

Royal Institution of Chartered Surveyors RICS

The origins of the Royal Institution of Chartered Surveyors (RICS) go back to 1792 when the Surveyors Club was formed. This was a response to the challenges posed by rapid industrialisation and the need for more stringent checks and balances to control development.

‘Surveyor’ is a very broad term that covers a wide range of disciplines and activities including the professional management of land, property, construction and engineering (see Surveyor for more information).

The Royal Institution of Chartered Surveyors was created in 1868 and received a royal charter in 1881. The royal charter requires RICS to “promote the usefulness of the profession for the public advantage in the UK and in other parts of the world.”

Today RICS has more than 500 staff and 100,000 members globally. It has an annual turnover of more than £50m. Its members are able to use the designation FRICS (Fellow of RICS), MRICS (Member of RICS) or AssocRICS (Associate of RICS). A chartered surveyor is a surveyor who has passed an assessment of professional competence and has become a member of RICS. Members of RICS must abide by a code of core professional and ethical standards and must keep up to date with current practice through a programme of lifelong learning. The profession is self-regulated, but important changes to its constitution have to be ratified by the UK Government, through the Privy Council.

RICS states that it aims to:

Regulate and promote the profession.
Maintain the highest educational and professional standards.
Protect clients and consumers through a strict code of ethics.
Provide impartial advice, analysis and guidance.

It also offers dispute resolution services, continuing professional development and publishes industry guidance and standards.

As well as operating in the UK, RICS has six world regions; RICS Europe, RICS Americas, RICS Asia, RICS South Asia, RICS Oceania and RICS Middle East & Africa.

Companies affiliated with RICS include:

Building Cost Information Service Limited (an organisation that collects, collates, analyses, models and interprets cost information and makes it available through online applications, data licensing and publications, as well providing consultancy and research services).
RICS Business Services Limited.
RICS Holdings Ltd.
RICS International Ltd.
RICS Research Foundation.
RICS Services Limited.
The Association of Quantity Surveyors Limited.