Re-evaluating RICS Surveys
RICS is planning to introduce changes to their Home Buyer Report (HBR), Condition Report and Building Survey. Currently only the first of the three includes a valuation to advise buyers about the current market value of the property. The plan is to start offering a survey only version alongside this so that surveyors and consumers have greater choice. Alternate versions of the other two types of survey will also be made available so people will have the option to choose either of the three with or without a valuation in the future.
The changes will be beneficial to RICS members and will remove a potential barrier to businesses. In order to provide a market valuation, a member needs to be a Registered Valuer. This puts limitations in place and means that only certain people could conduct a Home Buyer Report. The change means that surveyors unqualified to offer a valuation will be able to provide the HBR alongside the other two types of survey.
Surveyors who are Registered Valuers will be able to continue to provide HBRs with valuations in the same way they currently do. Additionally they would have the option to include a valuation in documents when they conduct a Condition Report or a Building Survey if they chose to provide it or a customer requested it.
RICS has been reviewing their surveying services to ensure they satisfy the needs of the market and consumers for a number of months. The changes are designed to update and improve the services to achieve this. A public consultation is currently ongoing to allow people to share their insights into the proposed changes. It will run until 31st January.
As a professional building surveyor in Slough, we have provided property surveys and valuations for many years, serving both lenders and private individuals. We are committed to offering the highest level of service each time and providing impartial, honest assessments of properties throughout the entire region. We always make sure to stay up to date with the latest changes in the surveying profession.
