The scheme was developed after RICS members deemed it appropriate to achieve proportionate and better regulation in the marketplace. So far, over 11,000 UK valuers have signed up, with more expected before the deadline.
The VRS, launched in October 2010 to ensure that RICS members adhere to and can be monitored on practising the professional standards contained in the RICS Valuation Standards (also known as the Red Book) when undertaking valuations.
From 30 April 2011 all valuers undertaking these valuations in the UK will need to have registered with the VRS in order to continue to provide Red Book valuations. The organisation said that this has been put in place to further assure the quality of valuations, raise the credibility of chartered surveyor valuers and provide clearly identifiable designation for the best regulated and qualified professionals in the field.
‘The Valuer Registration Scheme helps to further establish the credibility, skills and professionalism of RICS members among clients and public authorities. It also demonstrates RICS' focus on continuous enhancement to its regulatory approach and operations,’ said David Rushholme, RICS director of valuation.
‘'We are delighted with the number of members signing up to this scheme which clearly reinforces the importance of chartered surveyors as the leading valuation professional, providing sound, independent and consistent advice delivered to globally accepted standards,’ he added.
