What is the RICS Red Book?

— 29 Oct 2020, 09:50:21 by Jack Peacock

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Chartered Surveyors and Registered Valuers will often refer to the Red Book. The Red Book is quite literally, a red book, hence the name given to the RICS Valuation – Global Standards, which governs the majority of work undertaken by Valuers.

The Royal Institution of Chartered Surveyors (RICS) requires its members to work in accordance with the Red Book when undertaking valuations, following the mandatory standards and advisory guidance contained within it.

The Red Book also outlines the procedures, preparation and presentation standards which are expected of Valuers when reporting to clients.

Having a Red Book valuation carried out by a Chartered Surveyor and Registered Valuer provides the reassurance that the valuation has been carried out to the highest standard and in accordance with the requirements set out by the RICS.

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