RICS and SAIV sign MoU to promote professional standards

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The MoU was signed by Martin Brühl, president of RICS, and Mark Bakker, president of SAIV.

As bodies which both have the public interest at heart, both RICS and SAIV promote high professional standards with the aim of building public confidence in the profession and the industry, says TC Chetty, RICS country manager South Africa.

"As part of the MoU, the two organisations have agreed to share information such as research, industry standards and market data for mutual benefit. They will also promote one another's conferences, events and workshops to their memberships, offering member rates to one another," says Chetty.

International exposure

"We are very honoured to be involved with RICS, which has always been a benchmark of quality," says Bakker. "The valuation profession in South Africa has not had as much international exposure and connection as SAIV would like until now, but the formalised relationship with RICS will undoubtedly be beneficial to the profile of the profession. The opportunities for education, information and international collaboration will all benefit members and in turn the public at large."

Property valuers play an important role in the built environment as valuations are required when immovable property is bought, sold or expropriated, for deceased estates and mortgage bonds, levying of rates, insurance and investment purposes, rental determinations and leases, among others. A valuer also needs to continually research economic trends and predict future trends when determining the value of a property.

Brühl says the agreement is important for RICS because it views South Africa as a strategic market in Africa. "What we are doing here, we would like to do elsewhere in Africa - promoting the standards and training professionals, and if they want to become members of RICS, also regulating them."

Adoption of practices

RICS has a strongly collaborative approach, preferring to engage with professional bodies in various countries to see how common standards and practices can be adopted for the benefit of the industry globally.

As a large organisation with a presence in 164 countries, over 120,000 qualified members and about another 50,000 aspiring chartered surveyors waiting in the wings to pass their assessment of professional competence, RICS is in a position to play an influential role in this regard.

"We are privileged in that our members feed knowledge and best practice back into RICS, which is valuable input in developing many of the standards. Our main focus is on setting and promoting standards, both with regulators and with the end users of our services, especially when it comes to valuation," adds Brühl.