Analysts at the Royal Institution of Chartered Surveyors (RICS) have developed a publication designed to bring a higher uniform standard and more efficiency to commercial and residential property management practices across global markets. The guidebook, called Real Estate Management Guidance, is being touted as a source of professional and objective advice for real estate managers that they can be assured is accurate according to international standards. The hope is that the document provides a baseline for best practices that can be applied by property managers worldwide. For more on this continue reading the following article from Property Wire.
The Royal Institution of Chartered Surveyors (RICS) has launched its Real Estate Management Guidance, a landmark publication which provides best practice in ethics and professionalism for residential and commercial real estate managers worldwide.
The guidance sets a framework for best practice in the execution and delivery of real estate management services, and RICS says that it will help to raise standards across international markets. In addition the guidance supports professionals in meeting local legislative requirements and ethical codes in all world regions.
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The publication ensures that clients and consumers receive objective advice, delivered in a professional manner, which is consistent with internationally recognised standards. Clients and consumers can be reassured that when using an RICS qualified real estate manager, they are receiving an honest, fair and transparent professional service.
The guidance has been produced in consultation with professionals across the world. It features 12 core principles that together form the Real Estate Management Code. These core principles establish a culture of fairness and transparency, which should underpin all activities undertaken by real estate managers, in whichever country they practise.
‘We believe that setting out clear best practice for the real estate management sector will provide leadership and clarity for professionals around the world, and increased confidence to clients, in keeping with our remit to serve the public interest,’ said Ken Creighton, RICS director of professional standards.
RICS Real Estate Management Guidance has received widespread industry endorsement. Paul Harding, international director at DTZ described it as a positive step. ‘RICS is taking a positive step forward by creating a single set of principles to act as a foundation for each national markets diverse legal and commercial structure. The principles based advice sets the standards as we grow towards a global market place,’ he explained.
This article was republished with permission from Property Wire.