What do valuations have in common with surveys?

It is not because they do not need the information. Perhaps it is because there is a choice of finding the solution – either a qualified bona ide builder, or an independent surveyor without the high overhead cost of a Chartered Surveyor. So is the RICS pricing its members out of their work? I hope the same does not happen with valuations. Members and now some of the professionals we work with (Solicitors and Accountants) often talk about a “Red Book” valuations, as if it is some essential tool that a client cannot do without. But, in fact it is only the colour of the RICS instruction manual. Yes, it ensures good practice, thoroughness and accuracy. But so does a survey carried out by a Chartered Surveyor. The public want the answer to their valuation questions - and valuations (like surveys) are needed for a whole host of reasons. But they also want value for their money. A “Red Book” valuation is full of quality, but any Chartered Surveyor with the reputation of his firm at stake, is going to deliver the same – whatever the colour. And it cannot just be a matter of P.I. or, if it is, why isn’t insurance cheaper rather than more expensive to be a member of the RICS. And, why the extra tier of a “Regulated Valuer”, when there is the prestigious qualification of the Institution to start with, plus the ongoing CPD requirements and value of experience? As Chartered Surveyors – earning our living within the UK, not in the global market, we have to deliver a commodity that the public want to buy. I hope we do not lose that standard or the demand by expecting a price that is not durable in the public arena. Otherwise, we may suffer the same repercussions as surveys and our profile will diminish as a result.