RICS Knowledgebase

Sometimes a buyer or vendor receives a valuation and it is lower than they expected.

We hold our members to high standards of ethical conduct in any of their work and all the standards to which they operate are available on RICS.org

ethical standards are here Conduct & Competence (rics.org)

and Valuation Standards are here Valuation Standards (rics.org). 

This article explains perceived down/low valuations RICS Find a Surveyor - The myth of ‘down valuation’ - does it truly exist? (ricsfirms.com)

Valuers should keep good records of what they have used to build up their valuation and should have this available should the client question their information, but that is between the client and the valuer.  Any information not supplied in the report is at the discretion of the valuer about what they supply to the client subject to what was agreed when accepting the instruction.  The homeowner or buyer sometimes believes they have a right to this information when often the client is the lender. Should a complaint be raised against a member by the client files may be requested by the dispute resolution provider or the RICS so it is important to keep all information even if not shared with the client. 

more about concerns about valuations is available in this February 2022 regulation document

#Valuation