What is Royal Institution Of Chartered Surveyors (RICS)
The Royal Institution of Chartered Surveyors (RICS) is a professional organization that establishes and enforces standards for the valuation, operation, and development of assorted types of property. This property could be in the form of construction, land, structures, facilities, or infrastructure components.
BREAKING DOWN Royal Institution Of Chartered Surveyors (RICS)
The Royal Institution of Chartered Surveyors (RICS) is one of the world's leading professional bodies for qualifications and standards in land, property and construction. Established in 1868 by a group of surveyors in London, RICS has spread to over 140 countries. Qualified RICS members are recognized by designations such as FRICS for fellow, MRICS for member and AssocRICS for associate.
The RICS operates from its international headquarters in London, with six global regions outside the U.K., including offices in New York City, Brussels and Dubai.
The organization’s roster consists of 125,000 accredited professionals, who must adhere to the quality and ethical standards established by the RICS. Its members cover more than 160 specialties, from construction to valuation and waste management.
RCIS history and priorities
The RCIS traces its origins all the way back to 1792 when a group then known as the Surveyors Club was formed. A group of surveyors came together at the Westminster Palace Hotel. In London and decided to create a professional association, complete with a charter, resolutions and bylaws. By 1868, the group has expanded to include nearly 50 members who wanted to establish an official organization with a formal structure. The group once again met at the Westminster Palace Hotel and elected officers and a president. It established offices at the location that still serves as the RICS headquarters today.
The RCIS is now managed by a governing council, which is supported by a variety of boards and committees comprised of regional boards and national councils, along with 17 professional boards that focus on a particular industry specialty including building surveying, geomatics, facilities management, minerals and waste management, and valuation.
One of the group’s primary priorities is responsible, conscientious development with a focus on sustainability and preservation. RICS leaderships stresses corporate responsibility and ethical business practices as fundamental principles that guide all of the policies and decisions of the group. The organization requires that all members, both individuals and business entities, abide by those principals and uphold the standards dictated by RICS bylaws and procedures.
The RCIS and its members are dedicated to achieving a balance between progress and innovation and preserving the planet and its resources for future generations.